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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 issued a proposal aimed at simplifying and tailoring compliance with the Volcker Rule.