The Federal Reserve Board and the FDIC have released an optional model template for tailored resolution plans that certain firms will be submitting for the first time later this year.
The Dodd-Frank Act requires that bank holding companies with total consolidated assets of $50 billion or more and nonbank financial companies designated for enhanced prudential supervision by the Financial Stability Oversight Council (FSOC) submit resolution plans to the Federal Reserve and the FDIC.
The resolution plan rule permits eligible firms, generally those that are smaller and less complex, to file a tailored resolution plan. A tailored resolution plan focuses on the nonbanking operations of the firm and on the interconnections and interdependencies between the nonbanking and banking operations. The optional template is intended to facilitate the preparation of tailored resolution plans.
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Tuesday, September 3, 2013
Agencies Provide Model Template for Submission of Tailored Resolution Plans
Labels:
Deposit Insurance,
FSOC,
Supervision and Oversight
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