That we weigh in on how other countries set up their own regimes, in a manner that will be good for u. S. Firms and the u. S. Market. Its an attempt to influence what other countries do and thereby ensure a level Playing Field that works in our best interest. Their angst is based on the fact that they believe we might end up accepting standards from the International Community that might create problems for them here at home. Nothing thats adopted internationally has any binding force in the United States. We go through our own rulemaking process and decisionmaking. Its our internal decisions now. Of course, given our thoughts on whats appropriate, were using that and collaborating, doing this collaboratively with other u. S. Insurance regulators. Were presenting positions in basel, attempted to influence the international decisions. But we decide here whats the appropriate regime. Thank you, madam chair. Time of the gentleman has expired. The chair recognizes the gentleman from illino
Not look at asset manages of siffys but maybe down the road it would . There were a set of criteria that fsok initially issued to indicate firms that it might look at. Has that been updated, chair . Im not certain if it has. But there was there was written if you dont mind well reach out to your staff to see if theres any updated criteria on that. Do you also have a set of criteria that deals with an offramp, such as if an institution designated as a sify and they go down this path in your eyes, offramp for them. Do you have that set of criteria . We evaluate each of these firms every i think ivevery si decide if its no longer appropriate for them to be des designated . Do you have the guidelines . Were to the trying to run these businesses. And were not going to i dont think it would be appropriate for us to say you need to do x, y, and z to be dedesignated. These firms understand very well why theyve been designated. And they understand what kinds of changes in their Business Model w
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