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The Financial Stability Oversight Council Friday started the clock on a six-month process for designating a non-bank as systemically significant.

Ryan Schoen and others at Washington Analysis say in an investor’s note, “While FSOC did not disclose which companies were considered in today’s meeting, we expect the list to be short (probably no more than five to seven institutions), including, but not limited to, AIG, MetLife, Prudential, and General Electric.”

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