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FSOC discussed designation of a systemically important institution

The Financial Stability Oversight Council said Friday it discussed the ongoing annual reevaluation of its designation of a nonbank financial company — in all likelihood, a reference to American International Group , as media reports suggested the group of regulators would ahead of the meeting. The FSOC didn’t say what, if anything, was decided. If the FSOC ruled that AIG was no longer a systemically important financial institution, the insurer would no longer be subject to federal oversight via the Federal Reserve. AIG was bailed out by the federal government during the financial crisis of 2008.

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