July 01, 2022
Federal Reserve and FDIC extend deadline for U.S. GSIB resolution plan feedback
- Board of Governors of the Federal Reserve System
- Federal Deposit Insurance Corporation
For release at 2:00 p.m. EDT
The Federal Reserve Board and the Federal Deposit Insurance Corporation today announced that they have extended the period for issuing feedback for the U.S. global systemically important banks' 2021 resolution plans to allow the agencies additional time to analyze them.
Resolution plans, required by the Dodd-Frank Act, must describe the company's strategy for rapid and orderly resolution in bankruptcy in the event of material financial distress or failure of the company.