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GE Capital, AIG Proposed as Systemically Important by Regulators

June 04, 2013, 07:56 AM
Filed Under: Industry News

Reuters reported regulators on Monday proposed designating GE Capital, American International Group Inc, and Prudential Financial for heightened regulatory oversight.

According to the report, the Financial Stability Oversight Council said it had voted to propose naming certain non-bank financial companies "systemically important," or so big their failure could destabilize financial markets.

While regulators did not name the companies involved, GE Capital, AIG and Prudential all said on Monday that they had been notified that the risk council had proposed designating them systematically important, a move that would trigger additional regulatory scrutiny by the Federal Reserve, according to Reuters.  These companies would be subject to extra oversight and need to participate in regular stress tests and comply with new capital requirements.

View the entire Reuters article.

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