Government Hearings - 2014

  • 2014 0204 - GOV -The Federal Insurance Office’s Report on Modernizing
    •  [PDF-214pVIDEO-YouTube] - <Bonk: mp3, mp4>
    • Mcraith, Leonardi, In background (Ben Nelson, Gary Hughes?)
    • House - COMMITTEE ON FINANCIAL SERVICES - SUBCOMMITTEE ON HOUSING AND INSURANCE
  • Finding the Right Capital Regulations for Insurers 
    • [PDF-105p, VIDEO-Senate] - <Bonk: mp3, mp4> - T
    • Daniel Schwarcz, Collins
    • Senate - Banking, Housing, and Urban Affairs Committee - SUBCOMMITTEE ON FINANCIAL INSTITUTIONS AND CONSUMER PROTECTION
  • 2014 0520 - GOV - Legislative Proposals to Reform Domestic Insurance Policy
    • [PDF-128p, VIDEO-youtube] - <Bonk: mp3, mp4>
    • Hughes, Schwarz, Ross, Sean Duffy - I'm very productive
    • question: would the case of Executive Life created a Systemic Risk?
  • 2014 0520 - GOV - Examining the Dangers of the FSOC’s Designation
  • 2014 0909 - GOV - WALL STREET REFORM: ASSESSING AND ENHANCING THE FINANCIAL REGULATORY SYSTEM, aka Financial Regulatory System
    • [PDF-177p, VIDEO-CSPAN] - <Bonk: mp3, mp4>
    • (p24) Mr. TARULLO.
      • So, Senator, I guess I would draw a distinction between the creation of capital standards for traditional or current insurance activities, on the one hand, and an assessment of systemic risk on the other.
      • My own reading of the FSOC process with respect to Prudential and AIG is that there is not a lot of concern about the core insurance activities of those companies.
      • The concerns were with respect to some nontraditional insurance activities where runnability is more of a concern, and also with respect to things that are not insurance activities of any sort.
      • I think that is where the analysis would allow one to conclude there is systemic importance.
      • I personally do not think that the issue of whether there is systemic importance in traditional insurance activities has really been broached, and I am personally not sure we need to broach it.
      • I mean, my pretty strong presumption would be that there is not.
    • Senate - BANKING, HOUSING, AND URBAN AFFAIRS
  • 2014 0917 - GOV - Oversight of the FSOC
    • [PDF-72p, VIDEO-youtube] - <Bonk: mp3, mp4>
    • (p15) - Fitzpatrick - "Runnability"
      • Mr. FITZPATRICK. Governor Tarullo also noted that AIG and Prudential were designated as systemic not because of their core insurance activities but due to what he called ‘‘nontraditional insurance activities,’’ where runnability is more of a concern, and also with
        respect to things that are not insurance activities of any sort. Do you agree with Governor Tarullo that to justify designating an insurance company as an SIFI that one would have to find that the company engages in activities that are not traditional insurance activities and that do pose systemic risk?
    • 38:00 - Carolyn Maloney - Duty/Tools, Risk Identification, Risk Mitigation, Risky Activities 
    • Patrick McHenry
    • Patrick Pinschmidt, Deputy Assistant Secretary, Financial Stability Oversight Council - Testimony - 5p
    • Nicole Clowers, Director, Financial Markets and Community Investment, Government Accountability Office - Testimony
    • House Page
  • 2014 1118 - GOV -The Impact of International Regulatory Standards...Part II
  • 2014 1121 - GOV - Improving Financial Institution Supervision:  Examining and Addressing Regulatory Capture. Examining the Causes, Implications, and Potential Methods of Addressing Regulatory Capture
    • [PDF - 80p,  VIDEO - CSPAN] - <mp3, mp4>
    • Senate - Committee on Banking, Housing, and Urban Affairs - Subcommittee on Financial Institutions and Consumer Protection