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The Council is charged with identifying risks to the financial stability of the U.S.

It also noted that financial stability could be upset if financial institutions outsourced “critical services” from third-party providers where operational failures may disrupt the activities of “multiple financial institutions or financial markets.”

As such, the council recommended regulators kept a “proactive” approach in identifying new financial products and services as well as encouraging “relevent authorities” to evaluate the effects those services could have on the status quo

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