At its recent October meeting, the Financial Stability Oversight Council announced that it has rescinded its previous determination that material financial distress at Prudential Financial, Inc., could pose a threat to U.S. financial stability.
Prudential, the largest life insurance organization in the U.S., is the last non-bank to shed the post-Financial Crisis designation as a systemically important financial institution, a list that once included GE Capital, American International Group, and MetLife.
