MetLife designated systemically important
Not much of a surprise, MetLife (NYSE:MET) is notified by the Financial Stability Oversight Council of its designation as a SIFI. Also no surprise, the company registers its "disappointment" over the move.
"As we have said many times, singling out two large life insurance companies [Prudential as well] for SIFI designation will harm competition, lead to higher prices and less choice for consumers, and ultimately could result in less financial protection for middle-class families who need it the most."
MetLife has thirty days to seek judicial review of the FSOC decision, and is considering its next move