FAQs Sorted by Topic
In April 2016, the Federal Reserve Board and the Federal Deposit Insurance Corporation issued guidance for use in developing the 2017 resolution plan submissions by eight large domestic bank holding companies (BHCs). 1
In response to frequently asked questions regarding the guidance from the BHCs, Board and FDIC staff jointly developed answers and provided those answers to the firms in 2016 so that firms could take them into account in developing their next resolution plan submissions.2 Those questions and answers are being released to better inform the public about the resolution planning process.
- Comprise common questions asked by different BHCs. Not every question is applicable to every BHC; not every aspect of the guidance applies to each BHC’s preferred strategy/structure;
- Pertain to the eight large domestic BHCs only. Other firms required to file resolution plans should not assume that these questions and answers or other communications apply to them.
The domestic FAQs address questions raised in several topical areas:
- governance mechanisms
- operational: shared services
- operational: payments, clearing, and settlement
- legal entity rationalization and separability
- derivatives and trading activities
1. Bank of America Corporation, Bank of New York Mellon, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, State Street Corporation, and Wells Fargo & Company. Return to text
2. The FAQs represent the views of staff of the Board of Governors of the Federal Reserve System and the Federal Deposit Insurance Corporation and do not bind the Board or the FDIC. Return to text