FRB and FDIC Announce Extension of Resolution Plan Submission for Three Financial Institutions

The Federal Reserve Board and the Federal Deposit Insurance Corporation on Wednesday announced that they are extending the resolution plan submission deadline for American International Group, Inc., General Electric Capital Corporation, Inc., and Prudential Financial, Inc. The three companies will be required to submit their revised plans by Dec. 31, 2015.

See: Press Release; Banking and Consumer Regulatory Policy.Related news: FDIC and FRB Release Public Sections of Resolution Plans for Banks with Less than $100 Billion in Qualifying Non-Bank Assets (January 15, 2015); FDIC Issues Guidance for Large Bank Resolution Plan Submissions (December 18, 2014).