U.S. Treasury Secretary Janet Yellen. AP/Yonhap News

U.S. Treasury Secretary Janet Yellen is pushing to ease the regulatory stance of the Financial Stability Oversight Council (FSOC), a government financial safety watchdog, CNBC reported on the 11th (local time).

This aligns with the Trump administration's "deregulation" policy, and it remains to be seen whether the FSOC, which has focused on regulating and supervising financial institutions, will follow suit and undergo a complete change in direction.

According to CNBC, Secretary Yellen is scheduled to recommend a shift in the FSOC's approach at a meeting of the FSOC, which she chairs, on the same day.

Secretary Yellen is expected to state that easing regulatory barriers and supervision can strengthen the financial system and promote economic growth.

A letter from Secretary Yellen, scheduled for release on the same day, will state that "the FSOC will work with its member agencies to review whether certain elements of the U.S. financial regulatory framework impose excessive burdens, negatively impact economic growth, and ultimately undermine financial stability," CNBC reported.

The FSOC, established in 2010 after the 2008 global financial crisis, has focused on strengthening regulations and intensively supervising financial institutions.

The Treasury Secretary serves as the chairman of the FSOC, and voting members include the Chairman of the Federal Reserve (Fed), the Chairman of the Securities and Exchange Commission (SEC), the Comptroller of the Currency (OCC), the Director of the Consumer Financial Protection Bureau (CFPB), and the Chairman of the Federal Deposit Insurance Corporation (FDIC).