In an advance notice of proposed rulemaking ("ANPR"), the FDIC requested feedback on improvements to agency rules that require certain insured depository institutions ("IDIs") to submit resolution plans (the "Plan Rule").
The Plan Rule requires an IDI with over $50 billion in total assets to submit a resolution plan that allows the FDIC to resolve the IDI in the event of its insolvency.
In particular, the FDIC seeks comments on certain approaches under consideration, including:
- the creation of "tiered resolution" planning requirements contingent upon size, complexity and other factors;
- revisions to the frequency and content of plan submissions; and
- enhancements to the process for "periodic engagement" between the FDIC and institutions subject to the rule.
In addition, the FDIC is seeking feedback on whether to modify the $50 billion asset size threshold in the rule. Comments on the ANPR must be submitted no later than 60 days following its publication in the Federal Register.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
