MetLife Inc. (NYSE: MET) is a bank? It was part of the Federal Reserve stress tests, and the insurance giant did not come out too well in the stress tests. The Federal Reserve has not given the insurance player the same approvals seen elsewhere by other big banks today.
The press release noted, “MetLife is financially strong and well positioned for both the current environment and a potential further economic downturn. We are deeply disappointed with the Federal Reserve’s announcement. We do not believe that the bank-centric methodologies used under the CCAR are appropriate for insurance companies, which operate under a different business model than banks.”
MetLife closed up 4.7% at $39.46 today, but shares were down 3.8% in teh after-hours trading session.
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