Statement from Prudential Financial, Inc. regarding proposed non-bank SIFI designation

Statement from Prudential Financial, Inc. regarding proposed non-bank SIFI designation

NEWARK, N.J.--(BUSINESS WIRE)-- Prudential Financial, Inc. (NYS: PRU) has received notice of a proposed determination by the Financial Stability Oversight Council (FSOC) that the Company should be subject to stricter prudential regulatory standards and supervision by the Board of Governors of the Federal Reserve System as a "Covered Company," pursuant to the Dodd-Frank Wall Street Reform and Consumer Protection Act. The Company currently is evaluating whether to request a nonpublic evidentiary hearing before the Council to contest the proposed determination, as it is entitled to do under the applicable regulations.

If the Company is designated by the FSOC as a Covered Company, it could be subject to stricter prudential standards under the Dodd-Frank Act, which may include requirements regarding risk-based capital and leverage, liquidity, stress-testing, overall risk management, resolution plans, early remediation, and credit concentration; and may also include additional standards regarding capital, public disclosure, short-term debt limits, and other related subjects as appropriate. See "Business—Regulation" and "Risk Factors" included in the Company's 2012 Annual Report on Form 10-K for more information regarding the potential impact of the Dodd-Frank Act on the Company, including as a result of these stricter prudential standards.

Prudential Financial, Inc. (NYS: PRU) , a financial services leader with approximately $1.06 trillion of assets under management as of March 31, 2013, has operations in the United States, Asia, Europe and Latin America. Prudential's diverse and talented employees are committed to helping individual and institutional customers grow and protect their wealth through a variety of products and services, including life insurance, annuities, retirement-related services, mutual funds and investment management. In the U.S., Prudential's iconic Rock symbol has stood for strength, stability, expertise and innovation for more than a century. For more information, please visit

Prudential Financial, Inc.
Scot Hoffman,973-802-2824

KEYWORDS:   United States  North America  New Jersey


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