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Released: October 12, 2011
Fed oversight of nonbank financial companies is weighed
Source: Edward Wyatt, NY Times (Free Registration)
Financial companies that are not banks but have more than $50 billion in assets and $20 billion in debt could be regulated by the Federal Reserve and required to meet tougher standards, according to a proposed rule issued Tuesday by the nation’s top financial regulatory board.
The Financial Stability Oversight Council voted unanimously to seek public comment on a proposed rule that laid out the standards by which insurance companies, hedge funds, asset managers and the like could fall under stricter regulation.
Read Full Article: Fed oversight of nonbank financial companies is weighed
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