International standard-developing bodies have been turning a studied eye towards insurance regulator standards this summer, with the latest move coming from the G-20s Financial Stability Board involving standards for unwinding failing insurers.
The current selection process by the Financial Stability Oversight Council will be ongoing, not a one-time thing, according to the chief advisor to Deloitte Insurance Group.
The current selection process by the Financial Stability Oversight Council will be ongoing, not a one-time thing, according to the chief advisor to Deloitte Insurance Group.
AIG confirmed last night that it has been designated systemically significant by the Financial Stability Oversight Council, paving the way for possible federal regulation at the holding-company level. Prudential Financial and GE Capital were also designated at an afternoon meeting of FSOC members yesterday.
AIG confirmed last night that it has been designated systemically significant by the Financial Stability Oversight Council, paving the way for possible federal regulation at the holding-company level. Prudential Financial and GE Capital were also designated at an afternoon meeting of FSOC members yesterday.
However, this snagand the potential it raises that the sale could fall throughis unlikely to delay designation of AIG as a systemically significant nonbank by the governmenta step that could occur as early as June 3.
However, this snagand the potential it raises that the sale could fall throughis unlikely to delay designation of AIG as a systemically significant nonbank by the governmenta step that could occur as early as June 3.
The Financial Stability Oversight Council expects to vote on proposed designations of an initial set of nonbank financial companies in the near term, according to Treasury Secretary Jacob Lew in prepared testimony today before the Senate Banking Committee.