Financial institutions scramble to avoid Sifi label

Sheila Bair

The Federal Deposit Insurance Corporation (FDIC) has seen no evidence that any firm wants to be labelled a systemically important financial institution (Sifi).

Sheila Bair, the chairman of the FDIC, said on Tuesday that the FDIC has "detected absolutely no interest on the part of any financial institution in being named a Sifi".

She went on to confirm that many institutions are "vigorously lobbying against" being designated as such.

Speaking in Washington, DC, before the subcommittee on Tarp

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