(Corrects spelling of "systemically" in headline)
July 22 U.S. regulators are set to label Metlife
Inc systemically important, subjecting it to stricter
Fed oversight, Bloomberg said, citing two people familiar with
The Financial Stability Oversight Council (FSOC) could make
the decision on July 31, when it is likely to meet, Bloomberg
The vote could, however, be delayed as the council hasn't
formally closed its review of the insurer, which has been under
consideration for being labelled systemically important for more
than a year, Bloomberg said.
MetLife would have 30 days to request a hearing before the
FSOC to contest the decision. The regulators will then hold a
vote to make a final decision about designating MetLife.
Chris Stern, spokesman for Metlife, declined to comment on
the matter. Officials from the U.S. department of treasury were
not immediately available for comment.
(Reporting By Sudarshan Varadhan; Editing by Joyjeet Das)