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Treasury Removes SIFI Designation From GE Capital

Phil Hall
Jun 29, 2016
The Treasury Department’s Financial Stability Oversight Council (FSOC) has removed GE Capital from its listing of systemically important financial institutions (SIFI), more commonly known as the too-big-to-fail financial services companies

The Treasury Department’s Financial Stability Oversight Council (FSOC) has removed GE Capital from its listing of systemically important financial institutions (SIFI), more commonly known as the too-big-to-fail financial services companies.

GE Capital, a wholly-owned subsidiary of General Electric Corporation, received its SIFI designation on July 8, 2013. In rescinding its designation as being a risk to the financial stability of the nation, the FSOC noted that today’s company is drastically different from the one that was cited three years ago.

“Through a series of divestitures, a transformation of its funding model, and a corporate reorganization, the company has become a much less significant participant in financial markets and the economy,” the FSOC stated. “GE Capital has decreased its total assets by over 50 percent, shifted away from short-term funding, and reduced its interconnectedness with large financial institutions. Further, the company no longer owns any U.S. depository institutions and does not provide financing to consumers or small business customers in the United States.”

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