Deadline Extended for Comments on Large Bank Resolution Standards

The comment deadline for the joint Federal Reserve Board and FDIC Advance Notice of Proposed Rulemaking ("ANPR") soliciting feedback on whether the agencies should revise large bank resolution standards was extended to January 23, 2023.

As previously covered, the agencies issued the ANPR in order to determine whether implementing new regulations governing large bank resolvability would be beneficial. The proposed rulemaking would distinguish between the standards applied to global systemically important banks ("GSIBs") and standards applicable to other large banks. The agencies requested input on how GSIB standards could apply to other large banks.

The proposal offers a possible new long-term debt requirement as well as other requirements and resources that could be available to large banking organizations during resolution procedures.