In March 2017, the Federal Reserve Board (Board) and the Federal Deposit Insurance Corporation (FDIC and, together, the Agencies) issued Guidance for use in developing the 2018 resolution plan submissions by four foreign-based covered companies1 that are required to submit resolution plans.
In response to frequently asked questions regarding the Guidance from the foreign banking organizations, the Board and the FDIC staff jointly developed answers and provided those answers to the firms, so that the 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 various firms. Not every question is applicable to every firm (i.e., not every aspect of the Guidance applies to each firm’s preferred strategy/structure).
- Pertain to the four foreign-based covered companies only. Other firms required to file resolution plans should not assume that these questions or answers or other communications apply to them.