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Resolution Authority

Tuesday, April 16, 2013

Fed, FDIC Issue Guidance on Resolution Plans for Large Firms

The Federal Reserve and the FDIC have issued guidance and clarification for the first 11 financial firms that filed plans for their potential orderly resolution, as required by the Dodd-Frank Act.

The firms—with nonbank assets of $250 billion and up—filed their initial plans last year. The agencies’ guidance provides further information on what the firms should include in their 2013 plans, including details on potential obstacles to an orderly resolution under the Bankruptcy Code and analysis of the plans’ underlying assumptions.

The agencies also extended the 2013 filing deadline from July 1 to October 1.

Read more.

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