(Bloomberg) -- Warren Buffett, who built Berkshire Hathaway Inc. into a conglomerate with a market value of more than $350 billion, said his firm isn’t even close to being a too-big-to-fail risk to the economy.
Regulators haven’t contacted Berkshire to discuss its status as a possible systemically important financial institution, Buffett said Saturday at the company’s annual meeting in Omaha, Neb. The SIFI tag subjects companies to Federal Reserve oversight that could include tougher capital, leverage and liquidity requirements.
“I do not think that Berkshire Hathaway comes within miles of qualifying as a SIFI,” said Buffett, the firm’s chairman and chief executive officer. He said SIFIs tend to get at least 85% of revenue from financial operations, and “we don’t come remotely close to that.”
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