SIFI Designation Tag

WHAT’S THE DIFFERENCE BETWEEN FINANCIAL SERVICE COMPANIES? When I consider the FSOC’s SIFI Designation for non-banks, I'm reminded of two things – the difference between banks & insurance companies, and the joke: “Do you know the difference between an elephant and a dozen eggs?”  “No, what’s the difference?” "Well,...

23 December, 2014

SIFI DESIGNATION FOR NON-BANK FINANCIAL COMPANIES The Financial Stability Oversight Council (FSOC) approves the non-bank financial institutions viewed as Significantly Important Financial institutions (SIFIs). SIFI Designation requires all eight regulators: OCC, FDIC, CFPB, FHFA, FRB, NCUA, CFTC & SEC, one independent member with insurance expertise, and...

23 December, 2014