The Financial Stability Oversight Council (Council) today announced that it has voted to rescind its determination that material financial distress at GE Capital Global Holdings, LLC (GE Capital) could pose a threat to U.S. financial stability and that GE Capital should be subject to supervision by the Board of Governors of the Federal Reserve System and enhanced prudential standards. The Council unanimously determined that GE Capital no longer meets the standards for a determination, with one member recused.
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