Forbes reports:
A day after MetLife won its bid to shed its designation as a “systemically important financial institution,” GE Capital is making a similar request to the Financial Stability Oversight Council.
reports:
As a result, GE Capital is shedding all of its FDIC-insured bank deposits, and has shrunk its asset base by 52% over the last three years, from $549 billion at the close of 2012 to $265 billion, a number it expects to further reduce below $200 billion by the end of 2016. The firm has also drastically reduced its loans to consumers and those secured by real estate.
GE Capital attempts to look less like a crony capitalist business.
