Prudential Financial on Thursday advanced to the final stage of the government's process for designation as a non-bank systemically important institution (SIFI), according to several sources.
A Treasury spokesperson says, "The Financial Stability Oversight Council (FSOC) does not intend to publicly announce the name of any non-bank financial company that is under evaluation before a final determination with respect to such a company."
But analysts at Washington Analysis say Prudential will likely join American International Group (AIG), MetLife and possibly the Hartford among insurance companies the FSOC is considering designating as SIFIs.
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