FSOC Says GE Capital Still ‘Systemically Important’



In the most recent meeting of the Financial Stability Oversight Council, GE Capital’s status as a “systemically important financial institution” was not rescinded.

The FSCO acknowledged GE’s announcement in April in which it laid out plans to sell off GE Capital assets in order to focus on its industrial and manufacturing verticals. The divestiture of those assets has already gotten off to a quick start, as GE accelerated its Commercial Lending and Leasing business disposals at the end of June.

However, even though the sale is outpacing the original plan of sale from April, the FSOC still pegs GE Capital as a SIFI, a designation that GE Capital did not contest in its annual review.

Read the full release from the FSOC here.


Like this story? Begin each business day with news you need to know! Register now for FREE Daily E-News Broadcast and start YOUR day informed!

Leave a comment

View Latest Digital Edition

Terry Mulreany
Subscriptions: 800 708 9373 x130
terry.mulreany@monitordaily.com
Susie Angelucci
Advertising: 484.459.3016
susie.angelucci@monitordaily.com

View Latest Digital Edition

Visit our sister website for news, information, exclusive articles,
deal tables and more on the asset-based lending, factoring,
and restructuring industries.
www.abfjournal.com