U.S. financial regulators discussed the federal debt ceiling and the effect of the government shutdown on market monitoring during a phone conversation on Tuesday, a Treasury Department spokesman said. The Financial Stability Oversight Council might meet again as Oct. 17 …
Prudential Financial Inc., the second-largest U.S. life insurer, was designated systemically important in a 7-to-2 vote by a council of regulators charged with preventing another crisis. Edward DeMarco, acting director of the Federal Housing Finance Agency, and Roy Woodall, a …
Insurer Prudential Financial Inc. said on Thursday that U.S. regulators had voted to designate the company as systemically risky, bringing it under stricter regulatory oversight. A group of regulators known as the Financial Stability Oversight Council had been weighing whether …
Federal regulators may miss important threats to the financial stability of U.S. insurers by focusing on bank risks, MetLife Inc. Chief Financial Officer John Hele said. “Bank rules overlook key insurance risks,” Hele said today at a conference in New …
State insurance regulators are drawing on the country’s founding principles as they resist international pressure to give the federal government a greater role in overseeing the industry. Ben Nelson, chief executive officer of the National Association of Insurance Commissioners and …
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 to U.S. financial stability.” One may debate whether AIG should be a SIFI …
A bipartisan group of U.S. senators is introducing legislation that would give the Federal Reserve more flexibility in regulating systemically important insurance companies such as American International Group Inc. The Senate bill, whose sponsors include Ohio Democrat Sherrod Brown and …
The U.S. Federal Reserve said on Wednesday that it had approved a final rule to clarify the process the new U.S. risk council will follow when it begins designating nonbank financial firms for heightened oversight. A group of regulators known …
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 regulatory scrutiny for the second-largest U.S. life insurer. The 2010 Dodd-Frank …
Insurance giant American International Group Inc. said that it has received a notice from the Financial Stability Oversight Council (FSOC) that it is under consideration as a “systemically important financial institution” pursuant to the Dodd-Frank Wall Street reform act. The …
