Berkshire on Cusp of Fed Oversight Under Risk Council Criteria
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Warren Buffett’s Berkshire Hathaway Inc. may be on the cusp of getting Federal Reserve oversight under a proposal by regulators that also increases the chances that American International Group Inc. and MetLife Inc. will receive heightened scrutiny.
Berkshire had $29.7 billion in credit-default swaps linked to its debt as of Oct. 28, putting it just under a $30 billion threshold proposed last month by the Financial Stability Oversight Council. AIG, now majority-owned by the U.S., had $45.3 billion in swaps written against it, and MetLife, the New York-based insurer, had $32.9 billion.