WASHINGTON (Reuters) - U.S. regulators expect to start choosing after the spring which financial firms are “systemically” important, a Treasury official said on Tuesday.
Non bank financial institutions that are labeled as important will be subject to additional supervision by the Federal Reserve.
The Treasury official said there is no estimate on the number of potential institutions that could be chosen and said types of firms include: broker-dealers, asset managers and specialty finance companies.
The comments were made after the Financial Stability Oversight Council proposed six categories it will use to select which institutions may threaten the financial system.
Reporting by Sarah N. Lynch and Rachelle Younglai; editing by Carol Bishopric