FDIC and FRB Release Public Sections of Second Submission of Resolution Plans for Eleven Institutions

The FDIC and the Board of Governors of the Federal Reserve System ("FRB") released public sections of the recently filed annual resolution plans for eleven firms which describe each company's strategy for rapid and orderly resolution in the event of material financial distress or failure of the company. Dodd-Frank requires that bank holding companies with total consolidated assets of $50 billion or more and nonbank financial companies designated by the Financial Stability Oversight Council submit resolution plans to the FDIC and FRB. The public sections of the plans are available on the FDIC and FRB Websites.

See: FRB Press Release; FDIC Resolution Plans Public Sections; FRB Resolution Plans Public Sections.