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Desite Protestations, MetLife Deemed Systemically Important

Joe Mont | December 18, 2014

To the surprise of no one, including the company itself, the Financial Stability Oversight Council has designated Metlife, the nation’s largest insurance company, as a Systemically Important Financial Institution.

Although FSOC has not announced that designation, voted on behind closed-doors on Wednesday, MetLife ended speculation with a statement of its own on Thursday. “We are disappointed in the FSOC decision,” it said. “We continue to believe that MetLife is not systemically important under the Dodd-Frank Act’s criteria, and the company has presented substantial and compelling evidence to FSOC to support this conclusion.” The council initially proposed the designation in September.

“FSOC has a superior regulatory tool at its disposal if necessary – an approach based on identifying and regulating activities that pose systemic risk irrespective...

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