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Korea's SMEs need to brace for currency risk: observers

SEOUL, March 25 (Yonhap) -- South Korean small and medium enterprises (SMEs) should brace for possible volatility in the currency market as economic uncertainties are growing, local observers said Tuesday. At a meeting of the Federation of Korean Industries (FKI), analysts said that currency risks have been rising due to the U.S. Federal Reserve's tapering of its bond-buying program, slowing growth in China and the weakening of the Japanese yen, posing a threat to SMEs here.

Treasury nominee says bank regulations won't work for insurance firms

By Sarah N. Lynch WASHINGTON (Reuters) - President Barack Obama's nominee to serve as deputy U.S. Treasury Secretary told lawmakers on Wednesday she believes that large systemically important insurance companies should not face the same capital rules as banks. "A one-size-fits-all approach is not going to work here," Sarah Bloom Raskin told the Senate Finance Committee during her confirmation hearing.

Fed's Dudley, in remarks on systemic risk, does not address policy

NEW YORK (Reuters) - New York Federal Reserve President William Dudley said on Friday that more needs to be done to reduce risks in collateralized short-term funding markets, but made no reference to the U.S. economy or monetary policy in his prepared remarks. Speaking at the start of a New York Fed conference on "'Fire Sales' as a Driver of Systemic Risk in Tri-Party Repo and Other Secured Funding Markets," Dudley said regulators will have to step up to address risks if the industry cannot do so.

Prudential Financial designated 'too big to fail'

US regulators on Friday named insurer Prudential Financial to its list of "too-big-to-fail" institutions, the third non-bank placed under a tighter regulatory regime to reduce risks to the financial system. The Financial Stability Oversight Council's move subjects Prudential to tougher oversight and capital standards also applied to the country's largest banks.

Prudential Financial designated 'too big to fail'

US regulators on Friday named insurer Prudential Financial to its list of "too-big-to-fail" institutions, the third non-bank placed under a tighter regulatory regime to reduce risks to the financial system. The Financial Stability Oversight Council's move subjects Prudential to tougher oversight and capital standards also applied to the country's largest banks.

Prudential Financial designated 'too big to fail'

US regulators on Friday named insurer Prudential Financial to its list of "too-big-to-fail" institutions, the third non-bank placed under a tighter regulatory regime to reduce risks to the financial system. The Financial Stability Oversight Council's move subjects Prudential to tougher regulatory standards also applied to the country's largest banks. pmh/vs

U.S. risk council says Prudential needs close oversight

By Emily Stephenson WASHINGTON (Reuters) - Insurer Prudential Financial Inc said on Thursday that U.S. regulators had voted to designate the company as systemically risky, bringing it under stricter regulatory oversight. A group of regulators known as the Financial Stability Oversight Council had been weighing whether Prudential was so big that its failure could threaten U.S. financial markets.

ECB's Nowotny urges coordination of bank stress tests, quality checks

VIENNA (Reuters) - European officials will discuss on Thursday how to sequence health checks for bank balance sheets and stress tests for lenders, ECB policymaker Ewald Nowotny said on Tuesday, calling for a coordinated approach. The touchy issue - which has to be settled before the European Central Bank takes on a bank supervision role in the euro zone next year - will be a topic for the European Systemic Risk Board (ESRB), Nowotny told a financial conference.

MetLife CEO says company is not 'systemically important'

(Reuters) - MetLife Inc <MET.N>, the largest U.S. life insurer, is not a systemically important financial institution whose failure could pose a threat to the nation's financial stability, Chief Executive Steven Kandarian said. Kandarian's comments late on Tuesday came after the U.S. financial risk council moved closer to designating MetLife as systemically risky.

Risk council designates AIG, GE Capital for tougher oversight

By Emily Stephenson WASHINGTON (Reuters) - The U.S. financial risk council on Tuesday said it has designated American International Group <AIG.N> and GE Capital <GE.N> as systemically risky, bringing them under stricter regulatory oversight. The Financial Stability Oversight Council's decision to name its first set of "systemically important" non-bank firms had been long expected by the financial services industry.
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