House passes insurance capital standards bill

The US House of Representatives today (11 December) unanimously
passed legislation that aims to end confusion surrounding the
federal requirements imposed on systemically important insurers
that fall under the supervision of the Federal Reserve.
The Insurance Capital Standards Clarification Act will ensure
that the Federal Reserve can apply insurance-based capital
standards to the insurance operations of a business, while keeping
banking capital standards for the banking section.
The act will al