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AIG and GE Capital Elevated to 'Too-Big-to-Fail' Status by FSOC

Joe Mont | July 10, 2013

The Financial Stability Oversight Council has designated American International Group and General Electric Capital as Systemically Important Financial Institutions (SIFIs).

In accordance with the Dodd-Frank Act, the Council is authorized to determine that a nonbank financial company's material financial distress—or the nature, scope, size, scale, concentration, interconnectedness, or mix of its activities—could pose a threat to U.S. financial stability.

These designated entities will be subjected to stricter prudential regulatory standards and supervision by the Board of Governors of the Federal Reserve. Those measures...

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