Daily News: August 16, 2012

WSJ: MetLife Waiting Game Continues on GE Deal

The Wall Street Journal reported that the FDIC held its monthly board meeting behind closed door in Washington on Tuesday (8/14/12), and a day later no news has emerged indicating if the board debated the sale of MetLife’s bank deposits to GE Capital.

The article noted that FDIC approval of GE’s proposed purchase of MetLife’s U.S. retail-deposit business is a critical step in MetLife’s bid to raise its stock dividend and buy back shares.

WSJ added that the latest month of inaction on the GE transaction pushes MetLife closer to a deadline set by the Federal Reserve that requires the insurer to resubmit a 2012 capital plan by the end of September.

To read the full WSJ article, click here.

Previously on abfjournal.com:

WSJ: MetLife Bank Sale Still on Hold, Wednesday, July 18, 2012