IRI Applauds FSOC for AIG Decision

IRI Applauds FSOC for AIG Decision

Urges FSOC to Examine Non-Bank SIFI Designations

WASHINGTON, D.C. – The Insured Retirement Institute (IRI) released the following statement from IRI President and CEO Cathy Weatherford in response to the removal of the American International Group (AIG) from the Financial Stability Oversight Council’s (FSOC) “systemically important financial institution” designation.

“IRI commends the Financial Stability Oversight Council (FSOC) for its decision to remove AIG from the systemically important financial institution (SIFI) designation. This decision reflects the FSOC's modernized business and risk model information and is an important step for consumers, taxpayers, and the U.S. economy. IRI is hopeful that FSOC will continue to examine the SIFI designation it has placed on other non-bank entities.”

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