Report cites Prudential to be named as a non-bank SIFI
October 29, 2012 by Arthur D. Postal
October 19, 2012
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 said that, “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.”
Analysts at Washington Analysis said Prudential will likely join American International Group (AIG), MetLife and possibly the Hartford among insurance companies the FSOC is considering designating as SIFIs. Click here to read more…