TITLE

FSOC Inches Closer to Naming Systemically Risky Nonbanks

AUTHOR(S)
Borak, Donna
PUB. DATE
June 2013
SOURCE
American Banker;6/ 5/2013, Vol. 178 Issue 86, p6
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article reports the U.S. Financial Stability Oversight Council (FSOC) headed by Treasury Secretary Jacob Lew voted to identify some of the nonbank financial firms that are a risk to the financial system. The article notes American International Group Inc., GE Capital, and Prudential Financial have been under the FSCO's consideration since September 2012 but have not received the systemic risk designation as of June 5, 2013. It also notes Lew's remarks at a press conference.
ACCESSION #
88043370

 

Related Articles

  • Prudential Named as Systemically Important Despite Firm's Objections. Borak, Donna // American Banker;9/20/2013, Vol. 178 Issue F337, p1 

    The article reports Prudential Financial Inc., an insurance firm in New Jersey, is the third nonbank in the U.S. to be designated as a risk to the financial system as of September 20, 2013. The U.S. Financial Stability Oversight Council has already given the systemic risk designation to the...

  • FSOC Nears Vote on Naming Systemically Risky Nonbanks. Borak, Donna // American Banker;6/ 3/2013, Vol. 178 Issue 84, p1 

    The article speculates the U.S. Financial Stability Oversight Council (FSOC) will give the nonbank financial companies American International Group (AIG), GE Capital, and Prudential Financial Inc. a systemically risky designation. The article notes the FSOC is headed by Treasury Secretary Jacob...

  • Fed Supervision of Nonbanks Still Up in Air. Borak, Donna // American Banker;9/19/2013, Vol. 178 Issue 145, p19 

    The article notes Federal Reserve Board Chairman Ben Bernanke's September 18, 2013 remarks at a press conference after the Federal Open Market Committee's two-day meeting. Bernanke spoke about the U.S. central bank's supervision of nonbank financial companies that pose a systemic risk to the...

  • Who Will FSOC Label As Systemic Hazards? Borak, Donna // American Banker;10/1/2012, Vol. 177 Issue 151, p1 

    The article reports the U.S. Financial Stability Oversight Council (FSOC) voted to include nonbank financial institutions as systemically important financial institutions (SIFIs), notes the FSOC probably made this decision so the interagency council headed by Treasury Secretary Timothy Geithner...

  • FSOC Points to Further Work Ahead on Regulatory Reform. Borak, Donna // American Banker;4/26/2013, Vol. 178 Issue F316, p16 

    The article reports on the Financial Stability Oversight Council's (FSOC's) April 25, 2013 meeting. U.S. Treasury Secretary Jacob Lew talked about the Dodd-Frank regulatory reform law and nonbank financial institutions. The article notes the FSOC's annual report includes recommendations for...

  • Prudential Gets Chance to Sound Off on 'Systemic' Label. Borak, Donna // American Banker;7/24/2013, Vol. 178 Issue 113, p20 

    The article reports Prudential Financial asked U.S. regulators not to include the company on the list of risky nonbank financial companies that will be under the supervision of the Federal Reserve Board. The article notes the Financial Stability Oversight Council (FSOC) allowed the insurance...

  • Agencies Post Nonbanks' Initial Wind-Down Plans. Adler, Joe // American Banker;7/3/2014, Vol. 179 Issue 102, p1 

    The article discusses the global nonbanks General Electric Capital Corp., American International Group, and Prudential Financial, focusing on the development of plans on unwinding in case of a failure/bankruptcy. Other topics of the article include regulatory standards imposed by the Financial...

  • Prudential Named as Systemically Important Despite Firm's Objections. Borak, Donna // Americanbanker.com;9/19/2013, p1 

    The article reports that the Prudential Financial Inc. became the third nonbank firm after the insurance firm American International Group and financial services firm GE Capital in September 2013 to be designated as a risk to the financial system by the U.S. Financial Stability Oversight Council...

  • Falling on Deaf Ears: The FSOC's Evidentiary Hearing Provides Little Opportunity to Challenge a Nonbank SIFI Designation. BUTLER, WILLIAM M. // North Carolina School Banking Institute Journal;2014, Vol. 18, p366 

    The article discusses the evidentiary hearing process and rational behind Financial Stability Oversight Council's (FSOC's) nonbank systemically important financial institution (SIFI) designation of various financial corporations including Prudential Financia, Inc., AIG and GE Capital...

Share

Read the Article

Courtesy of VIRGINIA BEACH PUBLIC LIBRARY AND SYSTEM

Sorry, but this item is not currently available from your library.

Try another library?
Sign out of this library

Other Topics