GE Capital, AIG confirmed as first nonbank SIFIs

The Financial Stability Oversight Council announced Tuesday that GE Capital and AIG will be the first two nonbank firms to be considered systemically important to the financial system, meaning they will be subject to stricter government oversight. "Today the council has taken a decisive step to address threats to U.S. financial stability and create a safer and more resilient financial system," Treasury Secretary Jack Lew said.

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