WASHINGTON (AP) — American International Group says the government may designate the company large enough to pose a risk to the broader financial system. The label would subject the bailed-out insurance giant to greater federal oversight.
AIG said it has received a notice from the Financial Stability Oversight Council saying it is considering designating the company a systemically important financial institution. Such institutions would be regulated by the Federal Reserve and required to hold a larger capital cushions against losses.
AIG received a $185 billion government bailout, the largest provided to a single company.
Continue Reading for Free
Register and gain access to:
- Breaking benefits news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
