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Top U.S. regulators say financial system functioning in ‘orderly manner’

U.S. financial regulators on Friday said the country’s financial system is functioning in an “orderly manner” after Britain voted to leave the European Union and sent markets around the globe reeling.

The Financial Stability Oversight Council – which includes the heads of the U.S. Treasury, Securities and Exchange Commission and Federal Reserve – “noted that the U.S. financial system continues to function in an orderly manner, and that the Council will continue to monitor ongoing developments,” according to a summary released after a telephone call.

The council had brought up “Brexit” during a regularly scheduled meeting early in the week that was also closed to the press and public. It is charged with assessing potential hazards to the country’s financial system and heading off risks that could lead to another crisis on the magnitude of the 2007-09 meltdown.

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