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Tuesday, May 20, 2014

ABA Supports Bill to Tailor Designation of SIFIs

ABA wrote to Rep. Blaine Luetkemeyer (R-Mo.) thanking him for introducing H.R. 4060, which would end the arbitrary designation of systemically important financial institutions based on asset size alone. The bill would instead require the FSOC to include several factors — including complexity, scale, interconnectedness and activities — when naming SIFIs. The association said:

ABA believes strongly that the most effective and value-added supervision regime is one that is risk-based and individually tailored, taking into account a wide variety of factors including size, business model, complexity of operations, the nature of its charter, and other factors relevant to the risk of its activities, products and services.

Read the letter.

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