Fed special unit to give extra scrutiny to 15 firms

|By:, SA News Editor

Goldman Sachs (GS) and Morgan Stanley (MS) are on a Fed list of 15 U.S. and foreign financial firms that "may pose elevated risks to U.S. financial stability" and so will receive extra supervision by a cross-disciplinary special unit called the Large Institution Supervision Coordinating Committee.

Other firms on the list include JPMorgan (JPM), Bank of America (BAC), AIG (AIG), GE (GE), Citigroup (C), Wells Fargo (WFC), State Street (STT), Prudential Financial (PRU), Barclays (BCS), Credit Suisse (CS), Deutsche Bank (DB) and UBS (UBS).

As a major clearing and custody bank, Bank of New York Mellon (BK), will also receive the extra attention.