NU Online News Service, April 4, 3:29 a.m. EST
The Financial Stability Oversight Council's final rule determining whether an insurer is "systemically significant" casts a wider net than expected regarding who will get a closer look, and takes an "expansive view" of defining a company's debt, analysts say.
The final regulation establishes a three-step screening process for determining whether a non-bank such as an insurer should be subject to regulation by the Federal Reserve Board as well as state regulators because, under the criteria established under the Dodd-Frank Act, it represents a potential risk to the stability of the U.S.financial system.
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