Board and FDIC Provide Additional Instructions for Submission of Some Resolution Plans

The Federal Reserve Board ("Board") and the Federal Deposit Insurance Corporation ("FDIC") have jointly issued the release of additional guidance, clarification and direction for the first group of institutions that filed their resolution plans pursuant to the Dodd-Frank Act.

These 11 institutions filed their initial resolution plans with the Federal Reserve Board and the FDIC in 2012. Plans were required generally from U.S. bank holding companies with $250 billion or more in total nonbank assets, and foreign-based bank holding companies with $250 billion or more in total U.S. nonbank assets. Following review of the initial resolution plans, the agencies have developed instructions for these institutions to detail further information which should be included in their 2013 resolution plan submissions.

View Guidance in full here (links externally to Federal Reserve website).See also: Press Release.