IAIS Won't Sway US Too-Big-To-Fail Designations, FIO Says

Law360, New York (June 13, 2013, 7:13 PM EDT) -- The director of the Federal Insurance Office reassured U.S. House lawmakers on Thursday that the U.S. process for designating too-big-to-fail insurers would not be swayed by a parallel international process for pinpointing systemically important insurers that operate globally.

At a hearing of the housing and insurance subcommittee, House representatives pressed Michael McRaith, the FIO's director, to explain what effect the International Association of Insurance Supervisors' designation of global systemically important insurers, or G-SIIs, would have on the U.S. Financial Stability Oversight Council's own process for naming...
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