Financial Stability Oversight Council News

Missouri Insurance Director Huff Honored for Distinguished Service

Missouri Department of Insurance Director John M. Huff has received the Distinguished Service Award from the National Association of Insurance Commissioners. He was recognized for his tenure on the U.S. Department of Treasury’s Financial Stability Oversight Council (FSOC). “I am …

MetLife Executives Appear Before FSOC to Challenge Systemic Risk Tag

MetLife Inc. Chief Executive Officer Steven Kandarian was accompanied by Washington lawyer Eugene Scalia at a hearing Monday to challenge regulators’ proposal to subject the insurer to Federal Reserve oversight, a person with knowledge of the matter said. MetLife Chief …

MetLife to Continue Fight Against Systemic Risk Designation Next Week

MetLife will plead against being branded a super-risky financial firm at a meeting next week with regulators, a company spokesman said, as the U.S. insurer tries to escape oversight by the Federal Reserve. The Financial Stability Oversight Council, a group …

Delaware Commissioner Urges Treasury to Reconsider MetLife’s SIFI Designation

Delaware Insurance Commissioner Karen Weldin Stewart has recently sent a letter to U.S. Treasury Secretary Jacob Lew and other federal regulators urging them to reconsider their vote to propose that MetLife be labeled as a “systemically important financial institution” (SIFI). …

Treasury to Weigh Changes, Hear MetLife Challenge on Systemic Risk

U.S. Treasury Secretary Jacob J. Lew said a council of financial regulators will consider changes to how it evaluates companies for systemically important designation. The Financial Stability Oversight Council “will begin to consider possible changes in the coming months” after …

MetLife Challenges Systemic Risk Designation

MetLife Inc., the largest U.S. life insurer, is challenging a U.S. finding that it poses a potential risk to the financial system if it were to fail. MetLife requested a hearing before the Financial Stability Oversight Council, or FSOC, to …

North Dakota Commissioner to Serve on Financial Stability Oversight Council

The National Association of Insurance Commissioners (NAIC) appointed NAIC President and North Dakota Insurance Commissioner Adam Hamm to serve a two-year term as the state insurance commissioner representative on the Financial Stability Oversight Council (FSOC). The 15-member FSOC was created …

MetLife May Fight Systemic Risk Designation

Insurer MetLife said it is exploring ways to fight the U.S. government’s proposal on Thursday to deem it “systemically important” and subject it to stronger regulatory oversight. MetLife is the third insurer to be tapped for such a designation, which …

MetLife ‘Strongly Disagrees’ with Systemically Risky Designation

MetLife Inc., the biggest U.S. life insurer, was tentatively categorized as a systemically important financial institution (SIFI) by a panel of regulators, which would subject it to stricter Federal Reserve supervision. “MetLife strongly disagrees,” Chief Executive Officer Steven Kandarian said …

Insurers on U.S. Financial Oversight Council Agenda for Next Week

The U.S. systemic risk council will meet on Sept. 4 to discuss naming nonbank financial firms for tougher regulatory oversight, the U.S. Treasury Department said on Thursday. The Financial Stability Oversight Council (FSOC) appears close to deciding whether it believes …