Risk Management

The Financial Stability Oversight Council is in the final stages of evaluating an initial set of nonbank financial companies for potential designation as SIFIs, or systemically important financial institutions, according to remarks made today by Mary Miller, U.S. Treasury Under Secretary for Domestic Finance.

The Texas Legislature introduced bills last week that would sever the last controls the state has over Texas Mutual Insurance Co.its largest workers-compensation insurerwhile authorizing the state to set up an assigned-risk plan.

The Federal Reserve Bank of New York this week made public a mortgage-securities settlement with Bank of America that could bolster the BofA's case against American International Group Inc over claims on the assets.

Shares of bond insurer MBIA Inc rose as much as 7 percent on Friday as investors bet that a new investigation into Bank of America Inc's mortgage practices would pressure the bank to settle a $5 billion lawsuit with the company.

Insurer American International Group Inc eliminated the U.S. government's last financial interest in the company on Friday, buying back warrants from the U.S. Treasury for about $25 million.

House Democrats are demanding an explanation as to why the Federal Housing Finance Agency prohibited Fannie Mae from executing a plan to introduce new specialty lenders into the forced-place insurance market.

New head of NAIC supports state insurance regulation

Rep. Marsha Blackburn, R-Tenn., vice chair of the House Energy and Commerce Committee today told the National Association of Health Underwriters to keep its eye on her committee and the Ways and Means Committee for action this year on health-reform policy-change initiatives, including a revival of the medical-loss ratio bill....