systemically important financial institutions (SIFIs) News

Republican Plan Would Scrap Much of Dodd-Frank Financial Regulation

The chair of the U.S. House Financial Services Committee has proposed getting rid of much of the regulation put in place after the financial crisis, unveiling a plan on Tuesday that ignited fierce debate in the presidential election but is …

Federal Reserve Unveils New Proposed Capital Rules for Large Insurers

American International Group Inc. and Prudential Financial Inc.’s new capital rules should reflect the insurance business’s differences from Wall Street banking, the Federal Reserve said in a proposal to limit the chance that the companies could threaten the financial system. …

Federal Reserve Plans June 3 Meeting on Insurance Carrier Capital Rules

The U.S. Federal Reserve will hold an open meeting this coming Friday on proposals, in the works for more than five years, for capital requirements and other rules for insurance companies. The central bank’s announcement last Friday came a week …

Judge Calls FSOC Review of MetLife ‘Fatally Flawed;’ Government Vows Appeal

The U.S. government panel that decided MetLife Inc. was too big to fail erred in not analyzing the insurer’s vulnerability to financial distress, according to the federal judge who rescinded that designation last week. U.S. District Judge Rosemary M. Collyer …

MetLife CEO Raised Possibility of Breakup in 2014

MetLife Inc., looking to avoid tougher oversight, was examining options for a breakup or restructuring of the firm 14 months before announcing this year that it’s considering a sale, spinoff or public offering for part of the domestic retail business. …

MetLife Spinoff Plan Could Add to Pressure on AIG to Split

After General Electric Co. began selling finance operations to exit too-big-to-fail status, American International Group Inc. Chief Executive Officer Peter Hancock said it wasn’t clear that escaping the government risk tag would offer significant benefits to his company. Then in …

If MetLife Is Tagged As Systemically Risky, Why Isn’t Berkshire Hathaway?

MetLife Inc., the insurer fighting the U.S. government’s decision to label it a potential threat to financial stability, wants to know why Warren Buffett’s Berkshire Hathaway Inc. has gotten a pass. Documents just released show that question was posed last …

Regulators Want More Details on Insurers’ Living Wills for Bankruptcy

Three major non-bank financial firms need to provide more detail on how they could be unwound in bankruptcy after a collapse, regulators said Tuesday in their first response to the companies’ living wills. The statement by the Federal Reserve and …

U.S. Seeks Dismissal of MetLife Suit Challenging Systemic Designation

MetLife Inc.’s lawsuit challenging its designation by regulators as critical to the economy should be thrown out, U.S. Justice Department lawyers said without making public their arguments to the judge. MetLife on January 13 became the first nonbank to challenge …

Insurers Warn Against Encroachment on State Regulation

Insurance companies are calling for Congress to ensure state-based insurance regulation remains protected from federal or international “regulatory encroachment.” “Congress must now increase its oversight regarding the unprecedented federal and international intrusion into state insurance regulation,” Kurt Bock, CEO of …