Systemically important financial institution (SIFI)

{
  "id": "MLC-T-INS-003267",
  "term": "Systemically important financial institution (SIFI)",
  "field": "Insurance and risk management",
  "definition": "A financial institution whose failure could threaten the stability of the wider financial system, and which therefore faces tougher supervision, higher capital requirements and stress testing. The Financial Stability Board names global systemically important banks each year, and it published a list of global systemically important insurers from 2013 to 2016 before suspending it in 2017. In the United States the Financial Stability Oversight Council can designate nonbank firms such as insurers.",
  "abbreviation": "SIFI",
  "url": "https://mlchart.com/terminology/insurance/systemically-important-financial-institution-sifi/"
}