Aggregate consolidated liabilities report released

The Federal Reserve has released its annual determination of the aggregate consolidated liabilities of financial companies as required by the Dodd-Frank Act. The act prohibits a financial company from combining with another company if the resulting company's liabilities would exceed 10 percent of the aggregate consolidated liabilities of all financial companies. Effective July 1, 2020, aggregate consolidated liabilities equal $21,229,884,414,000. This number, which is the average of the year-end financial sector liabilities of the preceding two years, will be the measure of aggregate consolidated liabilities from July 1, 2020 through June 30, 2021.