FRB and FDIC Complete 2018 Evaluations of Bank Resolution Plans

The Federal Reserve Board ("FRB") and the FDIC completed their evaluations of the 2018 resolution plans for 82 foreign banks. The agencies also extended the 2019 resolution plan deadline for both the 82 foreign and 15 domestic banks.

The FRB and FDIC stated that the extensions will give the banks additional time to draft plans in consideration of the resolution plan rule changes proposed by the agencies in April 2019. The filing deadline has been extended by the agencies until July 1, 2021.