The Financial Stability Oversight Council voted not to rescind the designation of MetLife for enhanced prudential standards and supervision by the Board of Governors of the Federal Reserve System. The Council designated MetLife in December 2014, and notified the company of its annual review in October 2015.
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U.S. Treasury Deputy Secretary Sarah Bloom Raskin asserted that the key tools for reducing response times to cyber threats are preparation, coordination and practice across the financial sector.
Treasury Secretary Jacob Lew issued a statement arguing that a federal court's decision to rescind the determination that MetLife was a so-called "systemically important financial institution" leaves one of the "largest and most highly interconnected financial companies in the world subject to even less oversight than before the financial crisis."
The Internal Revenue Service proposed rule amendments for withholding agents regarding reporting obligations with respect to deemed distributions.
MFA, SIFMA, ICI, FIA and the FIA Principal Traders Group weighed in on a broad U.S. Treasury Department request for comments about current regulation of the U.S. Treasury market.