---
kind: "section"
citation: "12 C.F.R. § 1320.11"
title: "12"
number: "1320.11"
heading: "Consultation with financial market utility."
url: "https://uscodex.org/cfr/12/1320.11"
---

# §1320.11. Consultation with financial market utility.


Before providing a financial market utility notice of a proposed determination under [§ 1320.12](/cfr/12/1320.12.md), the Council shall provide the financial market utility with—

- (a) Written notice that the Council is considering whether to make a proposed determination with respect to the financial market utility under [§ 1320.13](/cfr/12/1320.13.md); and
- (b) An opportunity to submit written materials to the Council, within such time as the Council determines to be appropriate, concerning—
  - (1) Whether the financial market utility is systemically important taking into consideration the factors set out in [§ 1320.10](/cfr/12/1320.10.md); and
  - (2) **Proposed changes by the financial market utility that could—**
    - (i) Reduce or increase the inherent systemic risk the financial market utility poses and the need for designation under [§ 1320.13](/cfr/12/1320.13.md); or
    - (ii) Reduce or increase the appropriateness of rescission under [§ 1320.13](/cfr/12/1320.13.md).
  - (3) The Council shall consider any written materials timely submitted by the financial market utility under this section before making a proposed determination under [section 1320.13](/cfr/12/1320.13.md).

## Notes

### Authority

Authority: 12 U.S.C. 5321; 12 U.S.C. 5322; 12 U.S.C. 5463; 12 U.S.C. 5468; 12 U.S.C. 5469

### Source

Source: 76 FR 44773, July 27, 2011, unless otherwise noted.