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Reuters reported General Electric Co.'s GE Capital unit for now will remain designated as "systemically important" - a tag that carries greater regulatory scrutiny. Reuters cited an announcement made by a U.S. regulatory panel.
The Financial Stability Oversight Council (FSOC) said that General Electric, which in April announced it plans to shed most of its finance unit, did not contest the FSOC's decision in its annual review, according to Reuters.
The FSOC also said it is planning to keep AIG designated as such as well.
To view the Reuters article, click here.