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Bloomberg: GE Capital Said to Near Systemic-Risk Label in Review

October 08, 2012, 06:00 AM
Filed Under: Regulatory News

Bloomberg reported that GE Capital is in the final stage of a regulatory review to determine if it needs extra scrutiny because of the risk that its potential failure would pose to the U.S. economy, two people with direct knowledge of the matter said.

According to the report GE Capital Corp. and American International Group Inc. (AIG) are the only two non-banks that the Financial Stability Oversight Council has voted to advance to a third round of evaluations for possible designation as systemically important financial institutions.

The decision moves regulators closer to deciding whether GE Capital, which has been regulated by the Federal Reserve since July 2011, should be subject to heightened financial supervision, according to Bloomberg.

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