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The FDIC and Federal Reserve Board (collectively, the "agencies") found that the resolution plans (the "plans") of four foreign-based banks had "shortcomings" in how each bank communicated and coordinated between its U.S. operators and foreign parent "in stress." Separately, the agencies adopted final resolution plan "guidance for the 2019 and subsequent resolution plan submissions by the eight largest, complex U.S. banking organizations." Pursuant to the Dodd-Frank Act , resolution plans are mandated and must outline a company's strategy for a resolution under bankruptcy "in the event of

The Board of Governors of the Federal Reserve System and the FDIC extended the deadline for nineteen foreign banks and two large domestic bank holding companies to file their next resolution plans.

The FDIC and the Federal Reserve System issued a decision permitting 84 foreign banking organizations with limited U.S. operations to file less burdensome content resolution plans for the next three years. The decision was meant to increase clarity and decrease the burden of filing requirements.