▁managed ▁rather ▁than ▁owned ▁by ▁the ▁company , ▁and ▁the ▁extent ▁to ▁which ▁ownership ▁of ▁assets ▁under ▁management ▁is ▁diff use ; ▁ ▁the ▁nature , ▁scope , ▁size , ▁scale , ▁concentration , ▁inter connected ness , ▁and ▁mix ▁of ▁the ▁activities ▁of ▁the ▁company ; ▁ ▁the ▁degree ▁to ▁which ▁the ▁company ▁is ▁already ▁reg ulated ▁by ▁ 1 ▁or ▁more ▁primary ▁financial ▁regul atory ▁ag encies ; ▁ ▁the ▁amount ▁and ▁nature ▁of ▁the ▁financial ▁assets ▁of ▁the ▁company ; ▁ ▁the ▁amount ▁and ▁types ▁of ▁the ▁li abilities ▁of ▁the ▁company , ▁including ▁the ▁degree ▁of ▁reli ance ▁on ▁short - term ▁fund ing ; ▁and ▁ ▁any ▁other ▁risk - related ▁factors ▁that ▁the ▁Council ▁de ems ▁appropriate . ▁ ▁F SO C ▁subsequently ▁issued ▁clar ification ▁under ▁Final ▁Rule ▁on ▁Author ity ▁to ▁Design ate ▁Fin an cial ▁Market ▁Util ities ▁as ▁System ically ▁Import ant , ▁which ▁includes ▁the ▁following ▁chart ▁rec ast ing ▁the ▁above ▁stat ut ory ▁requirements ▁into ▁a ▁six - category ▁F SO C ▁analyt ical ▁framework ▁including : ▁▁ ▁size ▁ ▁inter connected ness ▁ ▁lack ▁of ▁subst it utes ▁ ▁le verage ▁ ▁liquid ity ▁risk ▁and ▁m atur ity ▁mismatch ▁ ▁existing ▁regul atory ▁scr ut iny ▁ ▁The ▁following ▁are ▁quotes ▁from ▁the ▁F SO C ▁final ▁rule ▁regarding ▁each ▁element ▁of ▁the ▁six ▁factor ▁framework . Inter connected ness Inter connected ness ▁capt ures ▁direct ▁or ▁indirect ▁link ages ▁between ▁financial ▁companies ▁that ▁may ▁be ▁condu its