The FDIC recently finalized its resolution planning rule for large banks, which becomes effective October 1, 2024. Resolution plans, or "living wills," are plans to wind down operations in the event of bank failures. The...more
Insured depository institutions with $50 billion to less than $100 billion in average total assets are subject to new resolution reporting standards, with enhanced reporting for those with average total assets of $100 billion...more
The U.K. Prudential Regulation Authority has published a Dear CEO letter addressed to non-systemic U.K. banks and building societies setting out proposals for improvement on resolvability and recovery planning. The PRA's...more
On May 23, 2023, the Brazilian Central Bank (Banco Central do Brasil – “BACEN”), together with the National Monetary Council (Conselho Monetário Nacional – “CMN”), enacted Resolution No. 6 (the “Resolution”), which outlines...more
Se publicó en el Diario Oficial de la Federación el 17 de abril de 2023 la resolución que modifica las disposiciones de carácter general aplicables a las instituciones de crédito la cual entrará en vigor el 1 de octubre de...more
Last week, the Federal Reserve Board (“FRB”) and the Federal Deposit Insurance Corporation (“FDIC”) released their feedback to the eight global systemically important banking institutions (“G-SIBs”) headquartered in the...more
The Financial Stability Board has published its 2019 Resolution Report, providing updates on its implementation of policy measures to enhance the resolvability of systemically important financial institutions. Key areas of...more
In this week’s newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
In this week's newsletter, we provide a snapshot of the principal U.S., European and global financial regulatory developments of interest to banks, investment firms, broker-dealers, market infrastructure providers, asset...more
Following consultation on draft guidance in November 2017, the Financial Stability Board has published two finalized guidance papers on aspects of the recovery and resolution of global systemically important banks....more
The European Banking Authority has published a redacted Decision on the disagreement between the Single Resolution Board and the National Bank of Romania, in their capacity as national resolution authorities under the EU Bank...more
The U.K. Prudential Regulation Authority has published a Policy Statement on reporting the minimum requirement for own funds and eligible liabilities and an updated Supervisory Statement "Resolution Planning", following a...more
The Financial Stability Board has launched its third thematic peer review on bank resolution planning, with the aim of evaluating implementation, by FSB member jurisdictions, of the resolution planning standard contained in...more
The US Board of Governors of the Federal Reserve System and US Federal Deposit Insurance Corporation announced that they have provided feedback to 19 non-US-based financial institutions on their 2015 resolution plans, and the...more
The US FDIC and the Federal Reserve Board completed their evaluation of the 2015 resolution plans of 16 domestic banks and separately issued guidance to four foreign banks....more
The Financial Stability Board launched a consultation on proposed Guidance on continuity of access to financial market infrastructures for a firm in resolution. The FSB's Key Attributes of Effective Resolution Regimes for...more