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US names insurer MetLife to 'too big to fail' list

The MetLife building on January 31, 2005 in New York CityUS financial regulators on Thursday put insurer MetLife on its list of systemically important financial institutions (SIFI) — also known as the “too big to fail” list — setting it up for tougher capital standards. MetLife immediately objected to the preliminary designation by the high-level Financial Stability Oversight Council, arguing that has a record of remaining strong during the financial crisis and that, if it did fail, it would not pose a danger overall to the US financial system. “In fact,” it added, “MetLife has served as a source of financial strength and stability during times of economic distress, including the 2008 financial crisis.” The SIFI or too-big-to-fail designation singles out very large financial institutions which are seen as posing a danger to the stability of the US financial system if they fail.

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