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AIG ready for SIFI status

26 November 2012

American International Group (AIG) has said it will welcome supervision by the Federal Reserve following its likely designation as a systemically important financial institution (SIFI), according to reports last week.

Bloomberg obtained a letter from AIG CEO Robert Benmosche to the Financial Stability Oversight Council (FSOC), which is in the process of designating SIFIs.

Benmosche said the company would not contest its status as a SIFI and that it welcomed the supervision as such.

AIG is already subject to Federal...

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This article was published as part of issue November 2012/4

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