The Treasury Department today issued a report recommending important changes to the Dodd-Frank Act’s orderly liquidation authority, which provides a mechanism for the FDIC and Federal Reserve to wind down a systemically important but failing financial institution with minimal harm to the broader financial system.
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The Federal Reserve and FDIC today determined that the nation’s eight largest banks did not have “deficiencies” in their July 2017 resolution plans, which detail how they would be resolved in the event of failure.
The FDIC today finalized restrictions on qualified financial contracts — such as derivative transactions, repurchase agreements, reverse repurchase agreements, and securities lending and borrowing agreements — of state-chartered non-Fed-member banks. The objective of the proposal is to facilitate the orderly resolution of a failed institution by limiting the ability of the firm’s QFC counterparties to
The House today passed the Financial Choice Act by a mostly party line vote of 233 to 186 (one Republican, Rep. Walter Jones of North Carolina, voted against).
The House Financial Services Committee today voted to advance the Financial Choice Act, Chairman Jeb Hensarling’s (R-Texas) sweeping, 600-page bill aimed at reforming parts of the Dodd-Frank Act’s extensive supervisory regime and providing regulatory relief for banks.
The House Financial Services Committee today held a hearing on the Financial Choice Act, Committee Chairman Jeb Hensarling’s (R-Texas) sweeping, 600-page bill aimed at reforming parts of the Dodd-Frank Act’s extensive supervisory regime and providing regulatory relief for banks.
President Trump today ordered the Treasury Department to conduct reviews of the Dodd-Frank Act’s Orderly Liquidation Authority and its process for designating nonbanks as systemically important financial institutions.
House Financial Services Committee Chairman Jeb Hensarling (R-Texas) today released the latest legislative text of his Financial Choice Act, a 600-page bill aimed at rolling back and reforming parts of the Dodd-Frank Act’s extensive supervisory regime, as well as providing regulatory relief for banks of all sizes.
The House Judiciary Committee today passed a bill that would create new provisions in the federal bankruptcy code to wind down a failing large bank with more than $50 billion in assets.
In a speech today at a Washington, D.C., think tank, FDIC Chairman Martin Gruenberg described the “impressive” progress the FDIC and Federal Reserve have made toward building a regulatory structure to resolve a failing systemically important financial institution.