Financial Stability Oversight Council News

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 …

AIG, GE Capital Systemic Risk Designations Renewed

The top U.S. regulatory panel tasked with policing the safety of the financial system said on Thursday it is launching a review of potential risks in the asset management industry. But the Financial Stability Oversight Council was unlikely to designate …

MetLife Designation as Systemically Important Expected Soon

A U.S. council of regulators is poised to label MetLife Inc. a potential threat to the financial system, subjecting the insurer to oversight by the Federal Reserve, two people with knowledge of the matter said. A decision by the Financial …

Treasury Chief Lew Backs Financial Regulators and Risk Designations

U.S. Treasury Secretary Jacob J. Lew pushed back against Republican efforts to curtail the work of a council of regulators charged with preventing another financial crisis and said a failure to examine potential risks could lead to “large-scale problems.” “If …

MetLife Unwavering in Battle Over Systemic Risk Rules

Steven Kandarian got MetLife Inc. out of banking to escape Federal Reserve oversight. Now, the insurer is fighting again to avoid the central bank’s reach. Kandarian, MetLife’s chief executive officer, has called regulatory uncertainty the primary challenge to meeting profit …

Republicans Fear U.S. ‘Surrender’ to International Group on Systemic Risk Designations

A group of Republican lawmakers demanded documents on Friday from U.S. regulators, voicing concerns that decisions about whether to designate large financial companies as systemically risky are unduly influenced by an international body. Senior members of the U.S. House of …

Critics Say Financial Stability Council’s Transparency Falls Short

The U.S. financial risk council adopted new transparency measures on Wednesday, after critics raised concerns the group was too secretive about its decision-making process. In a unanimous vote, the Financial Stability Oversight Council agreed to give the public seven days’ …

Regulators Reviewing Berkshire Hathaway for Systemic Risk

Regulators are starting to scrutinize Warren Buffett’s Berkshire Hathaway Inc. to determine whether it is important enough to the financial system to require Federal Reserve supervision, according to two people with knowledge of the matter. The U.S. Financial Stability Oversight …