Economy

Demeter

(85,373 posts)

23. MetLife considers fight against U.S. government's systemic tag

Mon Sep 8, 2014, 05:46 AM

Sep 2014

http://www.reuters.com/article/2014/09/04/us-metlife-systemic-idUSKBN0GZ2N420140904

Insurer MetLife said it is exploring ways to fight the U.S. government's proposal on Thursday to deem it "systemically important" and subject it to stronger regulatory oversight.

MetLife is the third insurer to be tapped for such a designation, which comes with heavy capital requirements and strict supervision by the Federal Reserve, comparable to that of the largest banks. The systemically important label is used to identify companies whose failure could pose a potential threat to financial markets.

Prudential Financial Inc and AIG have already been deemed "systemic" by the Financial Stability Oversight Council (FSOC), which is comprised of the country's top financial regulators and was formed after the recent credit crisis.

MetLife said it was not ruling out "any of the available remedies" under the 2010 Dodd-Frank law to contest the designation....

WE WANT BAILOUTS, WITHOUT RESTRICTIONS...THE CEO SAID

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