The FDIC has approved for publication in the Federal Register the Single Point of Entry (SPOE) strategy for the resolution of Systemically Important Financial Institutions (SIFIs) with request for comment.
The FDIC is required under Title II of the Dodd-Frank Act to resolve a SIFI in a manner that holds accountable the owners and management responsible for the failure of the company while maintaining the stability of the U.S. financial system. Creditors and shareholders must bear the losses of the financial company in accordance with statutory priorities and without imposing a cost on U.S. taxpayers.
The Single Point of Entry Strategy will be published in the Federal Register and open for public comment for 60 days after publication.
Read the proposed strategy.