Details

  • Service: Advisory, Risk Consulting, Financial Risk Management
  • Date: 10/17/2013

October 14, 2013 The Washington Report 

Federal Reserve and FDIC Release Public Sections of Recently Submitted Resolution Plans
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On October 3, 2013, the Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board (Federal Reserve) released the public sections of the annual resolution plans filed by 11 firms on October 1, 2013.

 

Bank holding companies with total consolidated assets of $50 billion or more and nonbank financial companies designated by the Financial Stability Oversight Council are required by the Dodd-Frank Wall Street Reform and Consumer Protection Act to submit resolution plans to the FDIC and Federal Reserve.  The resolution plans, which contain public and confidential sections, must describe the company's strategy for rapid and orderly resolution in the event of material financial distress or failure of the company.