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Tuesday, June 4, 2013

FSOC Identifies Systemically Important Non-Banks

Various press sources are reporting that the Financial Stability Oversight Council voted to propose designating several non-bank companies as "systemically important." While the panel of regulators did not disclose which companies were proposed for designation, AIG, Prudential Financial Inc. and the GE Capital Unit of General Electric Co. confirmed they were notified they had been selected.

Companies identified as systemically important by FCOS will be subject to heightened oversight by the Federal Reserve.

See the ABARegPolicy twitter feed on the right of the ABA Dodd-Frank Tracker homepage for more information.

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