Industry officials said the original proposal outlining the criteria that would be used in determining which firms would be regulated as SIFI
was so lean on specifics because the federal regulators who make up the FSOC were divided on what criteria they wanted to use in determining which non-banks were systemically significant.
Fitch estimates that 11 out of 21 banks with more than $50 billion in assets would already meet their potential minimum SIFI
will also be required to submit reports to the Federal Reserve, the FSOC and the FDIC on the company's credit exposure to other significant nonbank financial companies and significant bank holding companies as well as the credit exposure of such significant entities to the company.
talked about the SIFI
issue during a recent appearance at the National Press Club that coincided with the 1-year anniversary of passage of the Dodd-Frank Wall Street Reform and Consumer Protection Act of 2010.
banks with SIFI
designations have made moves as significant as MetLife and GE, but certain disincentives for becoming larger have been firmly established for banks, mostly though the global systemically important bank capital buffers, the Comprehensive Capital Analysis and Review program and the U.
Corrected to show that MetLife had not received a formal notification regarding a possible SIFI
In a securities filing submitted earlier this year, MetLife challenged the FSOC's preliminary designation of MetLife as a SIFI
Under President Obama, the FSOC, an ill-conceived creature of Dodd-Frank, was used to make overreaching SIFI
designations of non-banks, thus subjecting them to unreasonable, unknown, and unrealistic regulations.
MetLife shed the SIFI
designation last year via litigation and the FSOC de-designated American International Group Inc.
Treasury Department is supposed to use to pay for an orderly liquidation of a SIFI
make it easier for Prudential Financial to also try and get out of its SIFI
Now, with the rescission of its designation as a nonbank SIFI
, GE Capital's activities will no longer be subject to the supervision of the Federal Reserve or subject to the prudential standards set forth in the Dodd Frank Act and its implementing regulations, including minimum regulatory capital and liquidity requirements, submission of annual resolution plans, and regulatory reporting requirements.