US draws up too big to fail list

City A.M. Reporter
US regulators voted yesterday on a proposal declaring certain non-bank financial companies are so large their collapse could destabilise the financial system.

A final decision by the Financial Stability Oversight Council to dub companies “systemically important” would trigger extra regulatory scrutiny of those firms by the Federal Reserve.

Regulators have said they will not name the non-bank companies the council is considering until it issues final designations.