Major changes could be in store for the post-crisis regulatory structure that has been built over the past eight years.
The legislation would create a new office that would be both less powerful, and in some ways more independent, than the two entities it would succeed.
The proposal would raise the regulatory burden on the eight most systemically important U.S. banks, especially compared to the large regional banks.
If Trump won the White House and issued an Indiana-style order, it would not have the same potential consequences for existing or new rules.
The decision leaves open questions of what another SIFI must do to achieve de-designation, and the impact that GE Capital’s designation had on the financial system.
EU officials will soon make several decisions whether to grant U.S. insurance regulation “equivalence” with the EU’s new insurance regulatory and capital regime.
Dodd-Frank requires all banks with consolidated assets greater than $50 billion (often called “bank SIFIs”) to submit living wills.