On November 25, the Federal Reserve Board (the "Board") released proposed enhanced prudential standards and reporting requirements to be applied to General Electric Capital Corporation ("GECC") and requested public comment on the application thereof. GECC is designated by the Financial Stability Oversight Counsel as a non-bank systemically important financial institution that needs to be supervised by the Board and be subject to enhanced prudential standards similar to those applicable to certain bank holding companies. Release.
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