Tag Archives: living wills

Quarles Lays Out Opportunities for Further Regulatory Tailoring

Testifying before the House Financial Services Committee this morning, Federal Reserve Vice Chairman for Supervision Randal Quarles outlined several ways in which the Fed has already or is in the process of tailoring the post-crisis regulatory framework to promote efficiency, transparency and simplicity.

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ABA Supports Biennial ‘Living Will’ Submission Process

In a letter to FDIC Chairman Martin Gruenberg and Federal Reserve Vice Chairman for Supervision Randal Quarles today, ABA encouraged regulators to extend the filing date for upcoming resolution plan -- or “living will” -- submissions and to consider moving to a biennial schedule generally for banks that are required to submit resolution plans under the Dodd-Frank Act.

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House Passes ABA-Backed ‘Living Will’ Reform Bill

The House today voted unanimously to pass the American Bankers Association-supported H.R. 4292, which would extend the submission cycle for large bank resolution plans -- also known as “living wills” -- to once every two years and require timely regulator feedback.

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