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Friday, November 22, 2013

FDIC Release Dodd-Frank Implementation Performance Audit

The FDIC’s Office of Inspector General released a report evaluating its progress in implementing its systemic resolution authorities under the Dodd-Frank act. FDIC listed their main accomplishments:
  • issued a joint regulation and met established timeframes for completing reviews of Resolution Plans submitted by covered financial companies
  • entered into agreements with certain foreign regulatory authorities to promote cross‐border cooperation
  • developed a single‐point‐of‐entry resolution strategy as a preferred approach for the orderly liquidation of covered financial companies under certain circumstances

Read the report.
 

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