MetLife Sues Gov’t Over ‘Too Big To Fail’ Distinction
January 14, 2015
Though the insurer had hoped to avoid litigation, MetLife said it had no choice but to file a lawsuit to fight the U.S. government’s decision that the firm is “systemically important,” a designation that carries a greater regulatory burden. The “systemically important financial institution” (SIFI) designation was mapped out by a provision in the Dodd-Frank law, meant to single out large companies that are deeply interconnected with the financial system. Those institutions are required to bolster capital and liquidity, and allow increased monitoring from the Federal Reserve.
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