Risks – Page 6 – [BonkNote]

Nonbank Financial Conglomerate Nonbank Banks Nonbank Financial Companies sechistorical.org/museum/galleries/mec/mec05b_modernization_nonbank.php According to the Dodd-Frank Act, nonbank financial companies are domestic companies or foreign companies that predominantly are engaged in financial activities (such as insurance companies, consumer finance providers, commercial lenders, asset managers, and investment funds) but that are not bank holding companies or certain other types…

Mass Lapse 2016 – IAIS – Risk-based Global Insurance Capital Standard Version 1.0 Disintermediation Run – Triggers Legal Case – Fairbanks v Farmers Survey – 50% Unfortunately, some offices issued these contracts with a cash value of something approaching the total single premium guaranteed at any time. Interest rates rose, competitors offered better terms, and…

Surrender Cash Surrender Values Lapse vs Surrender Surrender Values 2013 – AP – An Empirical Analysis of Life Insurance Policy Surrender Activity, by David T. Russell, Stephen G. Fier, James M. Carson, and Randy E. Dumm – 23p 1877 0723 – New York Senate – Testimony Taken Before the Senate Committee on Charges Against De…

Securities Lending Securities Lending – Index Securities Lending – AIG Securities Lending – AIG – FCIC Securities Lending – FCIC Securities Lending – FRB Securities Lending – Insurance Regulators Figure 7 illustrates our identification strategy by focusing on the differences in lending behavior between MetLife and AIG. 2019 – FRB – Over-the-Counter Market Liquidity and…

Deceptive Deceptive Business Practices Deceptive Contracts Deceptive Sales Practices When a policyholder feels deceived, the disintermediation potential is enhanced. — Allen D. Booth, a consultant in the Milwaukee office of Towers, Perrin, Forster and Crosby 1982 – SOA – Universal Life Update, Society of Actuaries (rsa82v8n34) – 26p In guarding the public against insolvent insurance…

Optional Federal Charter 2007 1214 – CRS – Insurance Regulation: Optional Federal Charter Legislation – 16p 2004 – AP – Consumer Ramifications of an Optional Federal Charter for Life Insurers, Sheila Bair – 273p Chart – p262 2008 – SOA – Optional Federal Charter (OFC)—Another Acronym, Another Concern, By Norman E. HIll – 5p “OFC proposal”…

SIFI – Systemically Important Financial Institutions (p21) – Chairman LUETKEMEYER (R-MO) – Thank you. Mr. Van Der Weide, I want to let you know that you gave us more information in your 2 or 3 minutes’ response here than all of the other folks we have had before this committee, put together, when we asked…

Mis-selling …customers may be satisfied with companies because they provide inexpensive products, but the customers may be misinformed about what is being sold. (p3) 2015 0501 – Letter – AAA to IAIS – Committee Comments To IAIS on Conduct of Business Risk Draft Paper, American Academy of Actuaries – 4p Mis-selling and market conduct issues…

Procyclical 2006 – IMF – Procyclical Fiscal Policy: Shocks, Rules, and Institutions—A View From MARS – 41p 2009 0504 – Procyclicality – what it means and what could be done, Jean-Pierre Landau, Deputy Governor of the Bank of France – 6p

Fairness Now we want to make sure that the consumers are treated fairly and reasonably and have sufficient information upon which to make a decision. (p318) — James P. Corcoran. , Superintendent of Insurance, State of New York 1984 – {April 11, May 3, 10, June 28, September 13} – GOV – Competition in the…