Regulators Extend Resolution Plan Submission Deadline

The Federal Reserve and FDIC today announced that they would extend the resolution plan filing deadline for 82 foreign banks and 15 domestic banks until July 1, 2021, as they contemplate further changes to the resolution planning rule.

The agencies also announced that they have completed their evaluations of the 2018 resolution plans for 82 foreign banks. No shortcomings or deficiencies were identified in the plans, though the agencies are requesting additional specific information in the next resolution plans from seven firms.