The Financial Stability Oversight Council (FSOC), chaired by Treasury Secretary Timothy Geithner, is holding off designating American International Group as a systemically important financial institution, perhaps into next year, according to several sources.
Meeting today, it was anticipated that the FSOC would designate AIG as a SIFI (systemically important financial institution), meaning it would come under the supervision of the Federal Reserve Board and be subject to enhanced capital equirements, liquidity requirements, short-term debt limits nad public disclosures, as mandated under the Dodd-Frank financial services reform law.
However, National Underwriter has learned from a source that AIG's designation would likely be delayed until later this month at the earliest.
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