Maloney: MetLife SIFI Designation underscores need for Insurance Capital Standards Clarification Act

WASHINGTON – Congresswoman Carolyn B. Maloney (D-NY), Ranking Member of the House Financial Services Subcommittee on Capital Markets and Government Sponsored Enterprises, today released the following statement in reaction to the Financial Stability Oversight Council’s (FSOC) designation of MetLife as a systemically important financial institution.

“This action by the FSOC underscores the need for a quick, clean vote on S. 2270, the Insurance Capital Standards Clarification Act, which would allow the Fed to write proper capital standards for large life insurers.”