September 20, 2016
AAF Releases Research Examining FSOC’s Designation of Insurance Companies as SIFIs
The American Action Forum (@AAF) today released an analysis of the Financial Stability Oversight Council’s (FSOC) designation of nonbank systemically important financial institutions (SIFIs). The research, conducted by Scott Harrington, Ph.D., Professor at The Wharton School of the University of Pennsylvania, finds that FSOC is flawed in its method and execution of designating insurance companies for enhanced regulatory supervision and finds there is no compelling evidence life insurers pose a threat to the financial stability of the United States. The research recommends that FSOC adopt an activities-based approach in their monitoring of systemic risk.
The research will be the topic of an AAF-hosted event on Thursday, September 22nd at 12:30 p.m. The panel discussion will feature Dr. Harrington, Dr. Martin Baily of the Brookings Institution, and Dr. Mark Calabria of the Cato Institute, and will be moderated by Victoria Finkle, freelance banking reporter. Congressmen Blaine Luetkemeyer and French Hill will deliver keynote remarks. You can RSVP to the event here.
Click here to view the research.