U.S. FSOC takes next step in MetLife systemic review

WASHINGTON Wed Aug 20, 2014 2:56pm EDT

WASHINGTON Aug 20 (Reuters) - The U.S. Financial Stability Oversight Council has closed the evidentiary record to determine whether insurance firm Metlife Inc is systemically important, a source familiar with the situation told Reuters.

It is the last formal step before the council can vote on whether MetLife will be designated as systemically important, a tag that brings far greater capital and risk management oversight by financial regulators. (Reporting by Douwe Miedema; Editing by Meredith Mazzilli)