Daily News: July 3, 2013

GE Capital Opts Not to Contest Systemic Risk Tag

Bloomberg reported that GE Capital and AIG opted against fighting a decision by regulators that they pose potential risks to the economy, clearing the way for stricter oversight.

Bloomberg quotes GE Capital spokesman Russell Wilkerson as saying, “We have strong capital and liquidity positions and we are already supervised by the Fed. We have been and will be prepared to meet the requirements for SIFIs.”

To read the entire Bloomberg story, click here.

Previously on abfjournal: GE Capital Tagged as ‘Systemically Important,’ June 4, 2013