US Federal Reserve Board Begins the Process of Regulating Insurance Companies

July 27, 2016

Nearly six years after the adoption of Dodd-Frank’s Title I, which provides for the regulation by the Board of Governors of the Federal Reserve System (Board) of non-bank financial companies – such as insurance companies, finance companies and asset managers that are designated as systemically important financial institutions (SIFIs) by the U.S. Financial Stability Oversight Council (FSOC) – the Board, on June 14, 2016, finally proposed rules that would impose enhanced prudential standards on insurance companies that are designated as SIFIs (SIICs) (Proposal). On the same day, the Board published an advance notice of proposed rulemaking regarding capital requirements for SIICs and for depository institution holding companies that are significantly engaged in insurance activities (IHCs) (Capital ANPR). This OnPoint discusses issues raised by the Proposal and the Capital ANPR.

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