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Senate approves Dodd-Frank insurance revision
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Financial Stability, Legislation
Friday, June 6, 2014
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The U.S. Senate approved a bipartisan bill to revise Dodd-Frank by clarifying that the Federal Reserve has authority to take into account distinctions between banking and insurance when setting capital standards for firms under its jurisdiction. The bill’s backers said the measure removes any doubt that the Fed need not impose a bank-centric capital regime on insurance activities.
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