The CFTC said that it will not pursue enforcement actions in connection with certain swap rules related to transfers of swaps to recent FDIC-established "bridge" banks.
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Speaking at the Peterson Institute for International Economics in Washington, D.C., FDIC Chair Martin Gruenberg emphasized the "impressive and somewhat underappreciated" progress of the FDIC in implementing post-crisis regulatory reforms concerning the bankruptcy and resolution of systemically important financial institutions ("SIFIs"). First, Chair Gruenberg discussed efforts by the FDIC to strengthen the process for resolving SIFIs under the Bankruptcy Code, and noted that the FDIC has and will continue to provide guidance to SIFIs regarding the deficiencies in their Dodd-Frank resolutions