On April 16, 2019, the Federal Deposit Insurance Corporation (“FDIC”) announced its approval of an Advance Notice of Proposed Rulemaking (“ANPR”) inviting comment on ways to improve its rule requiring insured depository institutions with $50 billion or more in total assets (“Covered Insured Depository Institutions” or “CIDIs”) to submit periodic resolution plans to the FDIC … Continue Reading
On November 28, 2018, Federal Deposit Insurance Corporation (“FDIC”) Chairman Jelena McWilliams delivered keynote remarks regarding resolution planning requirements at the 2018 Annual Conference of The Clearing House and Bank Policy Institute. Chairman McWilliams repeatedly emphasized that the failure of a financial institution should be dealt with through bankruptcy. She stated that she strongly supports … Continue Reading
On July 16, 2018, Republican and Democratic leadership of the House Financial Services Committee announced that they have reached agreement to advance a package of financial services reforms known as the “JOBS Act 3.0,” consisting of 32 pieces of legislation that have passed the Committee or the full House with bipartisan support. While much of … Continue Reading
On March 24, 2017, the Federal Reserve Board and the Federal Deposit Insurance Corporation (the “Agencies”) jointly announced that they had completed their evaluation of the resolution plans submitted by 16 domestic banks, primarily regional banks, in December 2015, as required by the Dodd-Frank Act. The Agencies did not determine that any of the 16 … Continue Reading
