BoE challenged US Treasury on G-Sii status of Berkshire Hathaway

Disagreement among FSB members pointed to by BoE letter

Bank of England

The Bank of England (BoE) challenged the US Treasury over the absence of insurance giant Berkshire Hathaway from a provisional list of global systemically important reinsurers (G-Siis) drafted in October last year by the Financial Stability Board (FSB), can reveal.

The FSB was due to publish a list of G-Sii reinsurers in November 2014 alongside an updated list of G-Sii primary insurers. In a statement of November 6, the FSB stated that it would delay publishing the list of reinsurers "p