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FDIC Announces Resolution Plan Guidance for Large Banks Soon

Sept. 30, 2022, 9:23 PM

The Federal Deposit Insurance Corporation and the Federal Reserve Board have announced a plan to jointly administer guidance to assist large banks in developing resolution plans, according to FDIC Friday.

Resolution plans, known as “living wills,” outline a financial company’s strategy for rapid and orderly resolution under bankruptcy in the event of financial distress or failure, the FDIC said.

The guidance would apply to banks that are not global systemically important but with more than $250 billion in total assets. These banks can not have already received guidance and must be Category II and Category III banking organizations, said the ...