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Joint Resolution

A legislative measure that, if passed by both chambers of Congress and signed by the President (or if Congress overrides a veto), has the force of law. In this case, it's used to disapprove an agency rule.

Board of Governors of the Federal Reserve System

The main governing body of the United States' central bank, known as the Federal Reserve. It's responsible for managing monetary policy and supervising banks.

Rule

A regulation or official directive issued by a government agency that carries the force of law. These rules often clarify or implement existing laws.

Congressional Review Act (CRA)

A federal law that allows Congress to review new rules issued by federal agencies. Within a specific timeframe, Congress can pass a joint resolution of disapproval to overturn an agency rule, preventing it from taking effect.

Large Financial Institution Rating System

A method used by the Federal Reserve to evaluate and assign grades to the financial health, stability, and risk management of the largest banks and financial firms under its supervision.

Framework for the Supervision of Insurance Organizations

The set of guidelines, policies, and structures the Federal Reserve uses to oversee and regulate insurance companies that fall under its regulatory authority.