WASHINGTON (MarketWatch) – The Treasury Department said Wednesday that it stands by the Financial Stability Oversight Council’s determination that a material distress at Metlife Inc. [s:MET] could pose a threat to the financial system. In a statement, a spokesman for the agency said Treasury “strongly disagree” with afederal judge’s decision to rescind the FSOC determination that MetLife is a systemically important financial institution. “We are confident that FSOC’s determination was lawful and will continue to defend the Council’s designations process vigorously,” the Treasury spokesman said.
Market Pulse Stories are Rapid-fire, short news bursts on stocks and markets as they move. Visit MarketWatch.com for more information on this news.
From:: Stock Market News