Filed Under:Your Practice, Regulatory

Yellen: One-size-fits-all not a model for regulation

Federal Reserve Board chairman-designate Janet Yellen (AP Photo/Jacquelyn Martin)
Federal Reserve Board chairman-designate Janet Yellen (AP Photo/Jacquelyn Martin)

The Federal Reserve Board recognizes there are “critical differences” between banks and insurance companies, Federal Reserve Board chairman-designate Janet Yellen told a Senate committee at her confirmation hearing Nov. 14.

However, Yellen declined to be hemmed in on how the Fed will deal with that issue, saying only that the Fed is undertaking a study as part of its new responsibilities to oversee systemically important insurers as well as insurers designated as thrift holding companies.

Originally published on PropertyCasualty360. All rights reserved. This material may not be published, broadcast, rewritten, or redistributed.

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Nichole Morford

Nichole Morford
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