Browsing: Living wills


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.


As the Basel, Switzerland-based Financial Stability Board begins the process of evaluating whether post-financial crisis regulatory efforts are reducing the systemic and moral hazard risks associated with systemically important banks, ABA said “that the prospect of TBTF with regard to banking organizations has been addressed in the United States by these regulatory actions and the banking industry’s concomitant efforts.”


ABA, along with the Bank Policy Institute and the Securities Industry and Financial Markets Association, today expressed its support for a proposal from the Federal Reserve and the FDIC, as well as an advance notice of proposed rulemaking from the FDIC, to tailor their resolution planning frameworks for large banking companies and large insured banks.


In remarks at a Harvard Law School event today, Federal Reserve Vice Chairman for Supervision Randal Quarles signaled that the Fed and the FDIC will revisit the capital and liquidity requirements in place for the largest U.S. and foreign firms and will seek public input on current “living will” guidance.