NU Online News Service, Oct. 11, 6:48 p.m. EDT
The Financial Stability Oversight Council (FSCOC)—which came under intense pressure from insurers and their supporters in Congress to be more specific in disclosing the qualitative and quantitative standards that will be used in determining whether an institution is systemically significant—released today a much more detailed proposal for designating non-bank companies as “SiFi.”
The proposal, approved for public comment by the FSOC, was described as “proposed interpretive guidance,” by Lance Auer, a staff official at the Federal Deposit Insurance Corp. who helped draft the proposal.
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