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Home Compliance and Risk

FDIC reveals initial filing dates for submitting bank resolution plans

August 8, 2024
Reading Time: 1 min read
FDIC issues final special assessment to recover Deposit Insurance Fund losses

The FDIC today published the initial submission dates for certain banks to file resolution plans under new requirements adopted in June.  Under the new rule, banks with at least $100 billion in assets must submit a strategy that describes their resolution from the point of failure through the sale or disposition of the franchise. Banks with at least $50 billion in assets are required to submit information filings that do not need to be as detailed as the plans submitted by larger banks.

The FDIC published a list of banks along with the dates they must file their plans. Banks over $100 billion are divided into three “cohorts” with different filing dates. Banks over $50 billion are divided into two cohorts with filing dates.

Tags: Bank closuresFDIC
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