The Federal Insurance Office released its first annual report yesterday; however, this is not the official FIO report that the industry has been waiting more than 18 months for, and which is expected to contain specific recommendations for changing the regulatory landscape.
The FIO’s first annual report arrives eight days after AIG and Prudential were nominated to be designated as systemically important financial institutions, which subjects them to supervision by the Federal Reserve and “enhanced prudential standards,” according to the FIO report.
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