Regulators Said Set to Decide Systemically Risky U.S. Non-Banks
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U.S. regulators plan to vote next week on whether to label some non-bank companies a potential risk to the financial system, a move that would put them under heightened Federal Reserve supervision, according to three people familiar with the matter.
The Financial Stability Oversight Council, created as part of the Dodd-Frank law to help prevent a future crisis, meets June 3 in a closed session at the Treasury Department. The panel voted last week to notify unidentified companies that it had completed its study of whether they are systemically important. American International Group Inc., Prudential Financial Inc. and General Electric Co.’s finance unit, GE Capital, have all said they are in the final stage of review.