Moody’s Reports on Proposed Systemic Risk Rules for Insurers
A key ratings agency says that recently proposed guidelines for identifying which insurers would qualify as systemic risks represent an important first step in improved federal regulation of financial...
View ArticleFinancial Oversight Panel Eyes Prudential As ‘Systemically Important’
The new U.S. risk council has moved closer to deciding whether Prudential Financial is “systemically important,” a Prudential spokesman said on Friday, a tag that would translate into greater...
View ArticleCouncil Proposes AIG, Prudential, GE Capital as Systemically Important, Due...
U.S. regulators on Monday proposed designating American International Group Inc., Prudential Financial Inc. and GE Capital for heightened regulatory oversight, in a long-anticipated move aimed at...
View ArticleAIG CEO Comments on ILFC Sale, ‘Systemically Important’ Classification
American International Group Inc. Chief Executive Officer Robert Benmosche raised doubt about whether the company will complete a sale of its plane-leasing unit to a Chinese investor group by a...
View ArticleInsurers, State Regulators Try to Block Bank-Like Rules by Federal Reserve
MetLife Inc. and Prudential Financial Inc. have been joined by state regulators challenging the Federal Reserve on how to oversee the biggest insurers under the Dodd-Frank law. The insurers and...
View ArticlePrudential Will Appeal SIFI Designation; AIG, GE Will Not
Prudential Financial Inc., the No. 2 U.S. life insurer, is contesting a U.S. finding that it poses a potential risk to the financial system, becoming the first company to challenge the label that...
View ArticleAIG, GE Capital Accept Systemically Important Designations
American International Group Inc. and General Electric Co.’s finance unit were designated systemically important by U.S. regulators, a ruling the companies had already agreed to accept. The vote by the...
View ArticleS&P: ‘Systemically Important’ Designations Could Trigger Restructurings of...
New requirements that will be imposed on insurers that the Group of 20’s Financial Stability Board has designated to be global systemically important insurers (G-SII) may motivate restructurings of...
View ArticleCommentary: Does FSOC Understand the Business of Insurance?
The Financial Stability Oversight Council (FSOC) designated AIG as a Systemically Important Financial Institution (SIFI) after determining that “material financial distress at AIG could pose a threat...
View ArticlePrudential Drops Its Fight Against Systemic Risk Designation
Prudential Financial Inc., the second-largest U.S. life insurer, abandoned its challenge to a U.S. designation from a Treasury Department panel that subjects the company to increased regulatory...
View ArticleFed Chair Nominee Yellen Vows to ‘Carefully Consider’ SIFI Rules for Insurers
Federal Reserve Vice Chairman Janet Yellen said the central bank will “carefully consider” how to apply new regulatory standards to insurance companies that fall under the central bank’s supervision....
View ArticleDeputy Treasurer Nominee Says Bank Regulations Not Right for Insurers
President Barack Obama’s nominee to serve as deputy U.S. Treasury Secretary told lawmakers on Wednesday she believes that large systemically important insurance companies should not face the same...
View ArticleChamber Calls for Stricter Rules on Systemic Risk Designations on Insurers
The U.S. Chamber of Commerce is calling for rules that would make it more difficult for a group of regulators to subject financial companies to stricter oversight. A vote of three-quarters of the...
View ArticleFederal Reserve to Study Effect of Banks’ Systemic Risk Rules on Insurers
The U.S. Federal Reserve on Tuesday announced plans to study the potential effects of forcing big insurance companies to meet tough funding restrictions required by the 2010 Dodd-Frank law. The Wall...
View ArticleDelaware 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...
View ArticleBanks Balk at Easing Dodd-Frank Capital Requirements for Insurers
After coming together to help Republicans retake Congress, the financial industry is splitting over the best strategy to accomplish its main goal of paring back the Dodd-Frank Act. The rift appeared...
View ArticleFederal 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...
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