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FSOC to Vote Dec. 18 on MetLife SIFI Designation

The Financial Stability Oversight Council plans to meet Dec. 18 to vote on whether it will designate MetLife as a systemically important financial institution, subjecting it to Federal Reserve oversight...
December 11, 2014

The Financial Stability Oversight Council (FSOC) plans to meet Dec. 18 to vote on whether it will designate MetLife as a systemically important financial institution (SIFI), subjecting it to Federal Reserve oversight. Insiders say that as regulators close in on a decision, a legal battle is a distinct possibility.

MetLife CEO Steven Kandarian has urged regulators to avoid the designation. The firm "is not ruling out any of the available remedies" under Dodd-Frank, he said without being specific. If MetLife is designated, it can appeal in U.S. district court within 30 days of receiving the decision.

MetLife Said Near Systemic Label (Bloomberg 12/4/14)

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