(Bloomberg) -- Warren Buffett, who built Berkshire Hathaway Inc.into a conglomerate with a market value of more than $350 billion,said his firm isn’t even close to being a too-big-to-fail risk tothe economy.
Regulators haven’t contacted Berkshire to discuss its status asa possible systemically important financial institution, Buffettsaid Saturday at the company’s annual meeting in Omaha, Neb. TheSIFI tag subjects companies to Federal Reserve oversight that couldinclude tougher capital, leverage and liquidity requirements.
“I do not think that Berkshire Hathaway comes within miles ofqualifying as a SIFI,” said Buffett, the firm’s chairman and chiefexecutive officer. He said SIFIs tend to get at least 85% ofrevenue from financial operations, and “we don’t come remotelyclose to that.”
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