• Service: Tax, U.S. Indirect Tax, Advisory, Risk Consulting, Financial Risk Management
  • Industry: Banking & Capital Markets
  • Type: Publication series
  • Date: 5/8/2012

Regulatory Practice Letter #12-09 

Designation of Non-Bank Financial Companies as Systemically Important – Final Rule
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On July 19, the Financial Stability Board (FSB) and the Basel Committee on Banking Supervision (BCBS) published two consultation papers on addressing the risks posed by systemically important financial institutions (SIFIs). The proposals are designed to reduce the likelihood and impact of SIFI failures by requiring SIFIs to hold more capital and to prepare credible recovery and resolution plans (RRPs).