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U.S.
Treasury Secretary Jack Lew had said he strongly disagreed with
the decision and the government would vigorously defend the work
of the Financial Stability Oversight Council (FSOC), made up of
several U.S. regulatory agency chiefs, which designated MetLife
as a systematically important financial institution in 2014. The
designation triggers additional oversight and capital
requirements.
"We plan to vigorously defend Judge Collyer’s carefully reasoned
opinion," said Chris Stern, a spokesman for MetLife.
MetLife sued the U.S. government last year, saying FSOC used a
secretive, flawed process in determining that it could hurt the
U.S. financial system if it faces financial distress. On March
30, U.S. District Judge Rosemary Collyer rescinded the
designation.
(Reporting by Lisa Lambert; Editing by Diane Craft)
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