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Friday, September 5, 2014

CATO Institute: FSOC’s Double Standard

Mark Calabria of the CATO Institute wrote a post about “FSOC’s arbitrary, ever-changing double standard” when it comes to determining and labeling certain companies as systemically important. Calabria compared the process for labeling asset managers—which included a report and conference—and that for insurance companies, which has been very little discussion. FSOC has largely abandoned labeling asset managers as systemically important.

Calabria posited that, although the report and conference that served as a process for determining the systemic risk of asset management companies was “shoddy”, the lack of a process for labeling insurance companies does not improve the system.

Read more.

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