Financial Stability Oversight Council News

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 …

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 …