Reuters: Regulatory News: GE Capital says US council proposed designating it systemic

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GE Capital says US council proposed designating it systemic Jun 4th 2013, 00:06 June 3 | Mon Jun 3, 2013 8:06pm EDT June 3 (Reuters) - GE Capital, the financial services arm of General Electric, said on Monday it had been notified that U.S. regulators proposed designating it as "systemically important." Two other firms, American International Group and Prudential Financial, also said on Monday they had been notified by the Financial Stability Oversight Council of proposed designations. A final determination by the group of regulators that the firms are so big their failure would threaten financial markets would trigger extra oversight from the Federal Reserve. Russell Wilkerson, a spokesman for GE Capital, said the firm had received notice from the regulatory group and was "currently reviewing the details."

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