Bloomberg: MetLife set to be designated systemically important

|By:, SA News Editor

U.S. regulators are poised to label MetLife (NYSE:MET) "systematically important" and a potential threat to the financial system, subjecting the insurer to oversight by the Federal Reserve, Bloomberg reports.

MET has been under consideration as systemically important for more than a year, and its executives have met more than 10 times with Financial Stability Oversight Council staff members to argue it doesn’t pose a risk.

The report says a decision by the council may come as early as July 31, when the panel is tentatively planning to meet.