Reuters: Regulatory News: U.S. regulators propose set of 'systemically important' non-banks

Reuters: Regulatory News Reuters.com is your source for breaking news, business, financial and investing news, including personal finance and stocks. Reuters is the leading global provider of news, financial information and technology solutions to the world's media, financial institutions, businesses and individuals. // via fulltextrssfeed.com

U.S. regulators propose set of 'systemically important' non-banks Jun 3rd 2013, 22:12 WASHINGTON, June 3 | Mon Jun 3, 2013 6:12pm EDT WASHINGTON, June 3 (Reuters) - U.S. regulators voted on Monday to propose declaring that certain non-bank financial companies are so large their collapse could destabilize the financial system. A final decision by the Financial Stability Oversight Council to dub companies "systemically important" would trigger extra regulatory scrutiny of those firms by the Federal Reserve. "Today, the council took another important step forward by exercising one of its principal authorities to protect taxpayers, reduce risk in the financial system, and promote financial stability," Treasury Secretary Jack Lew, who chairs the oversight council, said in a statement. Regulators have said they will not name the non-bank companies the council is considering until it issues final designations.

You are receiving this email because you subscribed to this feed at blogtrottr.com. If you no longer wish to receive these emails, you can unsubscribe from this feed, or manage all your subscriptions