"MetLife says being designated too big to fail costs too much money
NEW YORK — MetLife is challenging its designation as ‘‘too big to fail,’’ a tag given to corporations the government says would pose a risk to the economy if they collapse. The designation brings strict financial guidelines — and, MetLife says, exorbitant costs. The nation’s largest insurance company, by assets, MetLife would come under the supervision of the Federal Reserve. Its primary regulator has been New York state. It’s seeking to overturn the Financial Stability Oversight Council’s designation of MetLife as a nonbank, systemically important financial institution. Those deemed ‘‘systemically important’’ must increase cash reserves to protect against huge losses, limit borrowing, and submit to inspections."
