All SIFI articles

  • Mnuchincrop
    Article

    FSOC seeks changes to nonbank designation guidance

    2019-03-07T21:12:00Z

    The FSOC has released proposed interpretive guidance regarding nonbank financial firm SIFI designations. It would implement an “activities-based approach” to identifying potential risks to financial stability and provide an “off-ramp” to designated firms.

  • Blog post

    Prudential escapes SIFI tag, enhanced regulatory oversight

    2018-10-29T14:30:00Z

    The FSOC has reversed a previous determination that material financial distress at Prudential Financial could pose a threat to U.S. financial stability.

  • Blog post

    OFR: Bank size not the whole story when measuring systemic importance

    2017-10-27T11:15:00Z

    A new report from the Office of Financial Research argues that asset size alone is not an adequate determinant of the systemically important banks targeted for enhanced regulation.

  • Blog post

    Bill targets ‘burdensome’ Dodd-Frank regulations, SIFI designations

    2017-10-04T14:30:00Z

    Bipartisan legislation is looking to bring regulatory relief to regional banks and bring about new ways for calculating whether an institution should be designated as systemically important.

  • Blog post

    FSOC lets AIG shed ‘systemically important’ status

    2017-10-02T12:00:00Z

    The Financial Stability Oversight Council has de-designated AIG as a systemically important financial institution, a classification that had placed heightened prudential standards and regulatory expectations upon the non-bank.

  • Blog post

    FSOC vs. MetLife legal battle resumes in October

    2016-08-25T12:45:00Z

    Round two of the fight between insurance giant MetLife and the government over its status as a systemically important financial institution heads to the U.S. Court of Appeals for the D.C. Circuit on Oct. 24 for oral arguments. Joe Mont reports.

  • Blog post

    GE Capital breaks free of its SIFI designation

    2016-06-29T12:30:00Z

    GE Capital Global Holdings is no longer a threat to financial stability,says the Financial Stability Oversight Council. While MetLife prevailed in a lawsuit to shed its designation as a non-bank systemically important financial institution, GE Capital did so by working within the agencies appeals framework. Joe Mont reports.

  • Article

    Fed proposes more ‘bank-like’ capital & risk standards for insurance companies

    2016-06-07T12:15:00Z

    Insurance companies are increasingly targeted with bank-like regulation and oversight. The latest development: proposals by the Federal Reserve’s Board of Governors for new capital and risk management standards for systemically important insurance companies and those that own a bank or thrift. Joe Mont reports.

  • GlassesReportCard
    Blog post

    Banks get report cards, to-do demands for their ‘living wills’

    2016-04-13T14:45:00Z

    The Federal Deposit Insurance Corporation and the Federal Reserve Board have released firm-specific report cards on the 2015 resolution plans of eight systemically important, domestic banks. The determinations were made public on Wednesday, one day after a report by the Government Accountability Office called for greater transparency in how their ...

  • Blog post

    Ruling that rescinded MetLife’s SIFI status made public

    2016-04-07T13:45:00Z

    A ruling that rescinded MetLife’s designation as a systemically important financial institution by the Financial Stability Oversight Council has been made public following an agreement to do so by both parties. U.S. District Judge Rosemary Collyer found that the FSOC’s designation process failed to follow both internal guidelines and external ...

  • Blog post

    GE Capital seeks to shed ‘too big to fail’ status

    2016-03-31T11:30:00Z

    One day after a federal judge revoked MetLife’s designation as a “systemically important financial institution” by the Financial Stability Oversight Council, GE—specifically the wholly owned subsidiary GE Capital—is requesting that it also be able to shed the classification and increased regulatory demands that come with being “too big to fail.” ...

  • DancingPeanutsGang2
    Blog post

    Judge sides with MetLife in battle over SIFI designation

    2016-03-30T13:00:00Z

    A federal judge has sided with insurance giant MetLife in its effort to remove the “systematically important financial institution” designation placed upon it in 2014 by the Financial Stability Oversight Council. The ruling is unlikely to mark the end of the battle as the government has the option of either ...

  • Blog post

    House Republicans Target FSOC With Legislative Agenda

    2015-11-06T12:00:00Z

    The House Financial Services Committee has approved a slate of bills at one of its favorite bureaucratic targets, the Financial Stability Oversight Council. The FSOC Improvement Act, if adopted, would allow financial firms to eliminate risk through changes to their business model before being designated as Systemically Important Financial Institutions. ...

  • Blog post

    Banks Could Face Long-Term Debt Requirements

    2015-11-02T13:45:00Z

    Unveiling yet another rulemaking effort to end taxpayer bailouts when large banks fail, the Board of Governors of the Federal Reserve has proposed an increase in the loss absorbing capacity of systemically important U.S. bank holding companies and the domestic operations of smilarly designated foreign banks. Covered institutions would be ...

  • Article

    Insurance Companies Face New Scrutiny and Bank-Like Regulation

    2015-10-20T14:30:00Z

    Image: Insurance firms are in an identity crisis these days: Regulators are treating them like banks. While insurers are trying to resist that, regulators themselves still struggle with how to make sense of the global jumble of rules, requirements, and risk generated by large firms. “There are a lot of ...

  • Blog post

    Insurers Brace for International Capital Standards

    2015-08-24T13:15:00Z

    The International Association of Insurance Supervisors seeks to impose new capital standards upon systemically important insurance companies, echoing mandates from the Basel Committee on Banking Supervision. The effort has irked the Financial Services Roundtable, which is urging U.S. regulators to oppose it. Who enforces any new standards is also unclear. ...

  • Blog post

    GE, AIG Unable to Shed SIFI Status at Annual Review

    2015-08-03T11:30:00Z

    What will it take to be de-designated as a systemically important financial institution by the Financial Stability Oversight Council? We may need to waitlonger for the answer to that burning question as, despite a restructuring that will slice away most of its financing arm, General Electric was not yet able ...

  • Blog post

    Fed Hands Big Banks New Risk-Based Capital Surcharges

    2015-07-20T14:45:00Z

    The Board of Governors of the Federal Reserve has issued a final rule that establishes risk-based capital surcharges for financial institutions designated as “global systemically important bank holding companies.” JPMorgan was handed the largest surcharge among the nation’s eight largest banks, 4.5 percent of its risk-weighted assets. More inside.

  • Blog post

    MetLife Challenges FSOC Secrecy with Document Demand

    2015-06-30T12:30:00Z

    As it sues the Financial Stability Oversight Council in federal court over its designation as a Systemically Important Financial Institution, MetLife is demanding that its lawyers have access to nearly 500 pages of redacted and unreleased agency documents, many of them otherwise shielded because of references to other companies. More ...

  • Blog post

    Who Is the Most Systemic of Them All? JP Morgan

    2015-02-18T13:00:00Z

    Which large U.S. bank would cause the most collateral damage if it were to fail? JP Morgan, according to a new report from the Treasury Department. The report tried to quantify just how much systemic risk exists in banks designated as “Systemically Important Financial Institutions,” and JP Morgan topped the ...