Filed Under:Your Practice, Regulatory

Treasury: Government near the end of SIFI process

FSOC chair and Treasury Secretary Jacob Lew (AP file photo)
FSOC chair and Treasury Secretary Jacob Lew (AP file photo)

The top Treasury overseer of financial institutions said Thursday night that the government “is nearing the end of the process” of designating which nonbanks, such as insurers, will be deemed systemically significant and therefore subject to federal regulation.

However, the comments by Mary Miller, U.S. Treasury undersecretary for Domestic Finance, are not that much different than comments on the issue she made at a Washington conference March 4 regarding the time of SIFI designations for nonbanks, so it is unclear how soon that the agency will vote on designating an insurer as a SIFI.

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Nichole Morford

Nichole Morford
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