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Prudential Financial, Inc.
PRU announced today that, after careful
review, it will not seek to rescind the designation of the company as a
non-bank systemically important financial institution by the Financial
Stability Oversight Council (FSOC). The company will continue to work with the
Board of Governors of the Federal Reserve System and other regulators to
develop regulatory standards that take into account the differences between
insurance companies and banks, particularly in the use of capital, and that
benefit consumers and preserve competition within the insurance industry.
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