NU Online News Service, Feb. 28, 2:50 p.m. EST

WASHINGTON—The American Insurance Association and a coalition representing seven property and casualty insurance companies are urging the Financial Stability Oversight Council to clarify the criteria it will use to determine its oversight authority.

The insurers sent comments to the FSOC in regards to the agency's request for establishing what objective criteria it will use in determining whether to designate non-bank financial companies (NBFCs) for prudential supervision by the Federal Reserve Board under Sec. 113 of the Dodd-Frank financial services reform law.

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