Tag Archives: SIFI

the difference between banks and insurance companies

Difference Between Banks & Insurance Companies

When I consider the FSOC’s SIFI Designation for non-banks I’m reminded of two things:  1) The Difference Between Banks & Insurance Companies 2) I’m reminded of the joke: “Do you know the difference between an elephant and a dozen eggs?” “No, what’s the difference” “Well if you don’t know, remind me never to send you to the store

SIFI Designation

SIFI Designation

The SIFI Designation for Non-Bank Financial Companies (NFC) A veritable pot of alphabet soup was put together by the FSOC to handle the task of designating non financial companies as SIFI’s. eight regulators: OCC, FDIC, CFPB, FHFA, FRB, NCUA, CFTC & SEC, one independent member with insurance “expertise” and five non-voting members. Three-Stage Evaluation The

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