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Inside FSOC’s reversal on GE Capital’s SIFI tag
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Financial Stability
Friday, July 8, 2016
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Three years after the Financial Stability Oversight Council (FSOC) determined that General Electric Capital Corp. could pose a threat to U.S. financial stability and was designated a Systemically Important Financial Institution (SIFI), the FSOC reversed course and rescinded the SIFI designation for GE Capital. The move comes months after a federal court forced the FSOC to rescind its SIFI designation of MetLife for abandoning the council’s own statutory definitions during the designation process. Read on to find out what GE Capital had done to make the FSOC reconsider its SIFI designation.
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