08/11/2014 - Federal Reserve & Congress Talk “ENHANCED PRUDENTIAL STANDARDS”
CENTRAL PLANNING & CONTROL
Moving towards Control of YOUR Pensions
through Control of Insurance Industry
Other non-banks to face ‘designation’ as “systemic risks to the financial system”
The Fed has insisted that the Dodd-Frank financial reform bill forced it to apply bank capital standards to non-banks. In response, the Senate recently passed a bill that would give the Fed the room to apply capital standards that are tailored for the insurance industry
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Life insurer MetLife is waiting to see if it will be designated this year, while its smaller rival
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Prudential Financial was deemed a systemic risk last September.
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LARGEST ASSET MANAGERS: On July 31, FSOC decided for now to lift the threat of systemic risk designations for the largest asset managers, but said it would focus on the industry’s products and activities.
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PRIVATE EQUITY & HEDGE FUNDS: The review of asset managers came after an FSOC-commissioned report on the industry, which also said it was reviewing private equity and hedge funds, prompting predictions that those sectors could be next on the council’s agenda.
Fed gives preview of future non-bank scrutiny 08-11-14 FT
