GE Capital Requests Rescission of SIFI Designation due to "Complete Transformation"

In light of what the company called its "complete transformation," GE Capital urged the Financial Stability Oversight Council ("FSOC") to rescind the designation of GE Capital as a non-bank Systemically Important Financial Institution ("SIFI").

Highlighting the criteria used in FSOC's designation, GE Capital claimed that it is no longer systemically important due to a number of changes to its business that make it a "smaller, simpler company."