Fed briefs Council on enhanced SIFI standards

January 9, 2014 by Elizabeth Festa

Acting Deputy Treasury Secretary Mary Miller today convened a meeting of the Financial Stability Oversight Council (FSOC) in a closed session at the Treasury Department that made no apparent movement toward designating MetLife a systemically important financial institution (SIFI) as it is expected to do at a later date.

MetLife has been under Stage 3 review consideration as a nonbank SIFI for about six months now. Today’s FSOC meeting shows that the book on MetLife is not closed on it yet, indicating the controversial “run on the bank” scenario roadmap provided by AIG and Prudential Financial, designated last year, may not be the same as used for MetLife.

Originally Posted at LifeHealthPro on January 9, 2014 by Elizabeth Festa.