NU Online News Service, March 26, 12:20 p.m. EDT
WASHINGTON–The Obama administration today asked Congress for authority to create a federal regulator with authority to administer large insurance companies.
Under the proposed scheme, federal administration would be based on "the financial system's interdependence with the firm, the firm's size, leverage (including off-balance sheet exposures), and degree of reliance on short-term funding."
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