Federal financial-services regulators have promised to propose soon a regulation that large property and casualty insurers hope will provide them a pathway to insignificance.
In a letter Aug. 10 to a member of Congress, the Treasury Department said the Financial Stability Oversight Council (FSOC) plans to re-propose—with “greater detail on the process and framework”—the principles it will use in designating non-bank financial companies as systemically significant.
The letter doesn't specify exactly when the proposed regulation and guidance will be published for comment, but it does say the regulation will come with a 60-day comment period and that guidance will be released at the same time.
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