Agencies Complete Resolution Plan Evaluations and Extend Deadline for Certain Firms

Orrick - Finance 20/20
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Orrick - Structured Finance Group

The Federal Reserve Board and the FDIC completed their evaluation of 82 foreign banks’ 2018 resolution plans, which describe a company’s strategy for rapid and orderly resolution in the event of bankruptcy. In light of proposed resolution plan rule changes, the agencies also extended the deadline to file their next resolutions plans to 2021 for these 82 foreign banks and 15 additional domestic banks. Release. Joint Release.

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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