systemically important financial institutions (SIFIs) News

Treasury Secretary Yellen Says ‘Systemic’ Tag May Not be Right for Asset Managers

Treasury Secretary Janet Yellen said on Wednesday it is important to “look carefully” at systemic risks posed by asset managers, including BlackRock Inc., but said designating them as systematically important financial institutions may not be the right approach. Yellen’s remarks …

Federal Reserve Raises Questions Over Life Insurers’ Risk of Coronavirus Claims

U.S. life insurers face questions about their ability to cover a sudden rush of claims after the Federal Reserve highlighted liquidity and leverage risks in a report this week. Issues the Fed focused on are not new: Life insurers have …

Global Regulators Delay, Rethink ‘Too-Big-to-Fail’ Designation for Insurers

Global insurance regulators will put off singling out insurers deemed so important to the financial system that they are required to hold extra capital, in a victory for companies such as American International Group and Prudential. The International Association of …

Treasury Erases ‘Too-Big-to-Fail’ Label on Prudential

The Trump Administration has rescinded the systemically risky – or “too big to fail” – designation for Prudential Financial that placed the financial services giant under extra regulatory scrutiny. The designation of Prudential as a systemically important financial institution (SIFI) …

Update: China Plans to Hike Number of Financial Institutions Deemed Too-Big-to-Fail

Chinese authorities said they will designate more financial institutions as systemically important, a sign that policy makers are stepping up crisis-prevention efforts as the nation’s debt burden and financial risks swell to unprecedented levels. Financial regulators led by China’s central …

Oversight Panel Makes No Changes in Systemic Risk Tags on Insurers

A panel of U.S. regulators decided after meeting on Friday to stick with its existing policy for stricter rules on a handful of large financial institutions it deems “systemically important.” The Financial Stability Oversight Council convened Friday to potentially remove …

MetLife ‘Too Big to Fail’ Case Remains on Hold Awaiting Trump Weigh-In

Any legal decision on whether the largest U.S. life insurer MetLife Inc. should be labeled “too big to fail” will probably come after the Trump administration defines its stance on the designation. A U.S. appeals court said on Wednesday that …

MetLife’s ‘Too Big to Fail’ Lawsuit on Agenda for U.S. Regulators

Heads of the U.S. financial regulatory agencies will meet behind closed doors this Friday to discuss MetLife Inc.’s lawsuit against them, according to a notice from Treasury, as the Trump administration wrestles with reforms put in place in response to …

Insurers Push to Keep Industry Expert Woodall on U.S. Regulatory Council

With no sign of a replacement in the works, the U.S. insurance industry is pushing to prevent the departure of a key figure on the federal body that determines how large insurance companies are regulated. Roy Woodall, the sole independent …

Insurers Praise House Approval of Systemic Risk Reform Bill

The House of Representatives took a step toward changing the Dodd-Frank financial regulation law by passing a measure that requires that a systemic risk designation be based on more than a financial institution’s size. The House vote was heralded by …