In U.S. Senate Banking Committee testimony this week, Federal Reserve Board Gov. Daniel K. Tarullo offered a few insights to the Federal Reserve as it develops capital rules for insurers under its oversight.
Tarullo reminded the committee, however, that banking regulators are constrained by the structures of the law — the Wall Street Reform and Consumer Protection Act of 2010 (Dodd-Frank).
There are a number of products insurers develop and underwrite that are not susceptible to a single capital treatment as bank capital would be, Tarullo said in response to a question from Senate Banking Chairman Tim Johnson, D-S.D.
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