Subscribers

GE wants 'too big to fail' label removed from GE Capital

It says its finance arm has shrunk too much to meet the criterion now

Washington

GENERAL Electric (GE) has asked regulators to lift the "too big to fail" label on GE Capital, saying in a filing on Thursday that its finance arm had shrunk to the point where it no longer met the criterion.

GE Capital is one of four non- bank financial institutions that regulators have designated as "systemically important" to the financial system. On Wednesday, another one, MetLife, won a court order to lift its designation.

If successful, GE Capital would be the first financial institution...

BT is now on Telegram!

For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes