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Thursday, June 13, 2013

FDIC & Canadian Counterpart Sign Memo on Cross-Border Resolutions

The FDIC announced it has signed a memorandum of understanding with its Canadian counterpart, the Canada Deposit Insurance Corporation (CDIC), on cross-border cooperation in resolving a large failing bank with operations in both countries.

The non-binding agreement calls for the FDIC and CDIC to enhance and increase their cooperation and information-sharing related to crisis management and contingency planning, not only during crises but also throughout normal business periods.

Read more.

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