The Federal Reserve Board and the FDIC proposed guidance for certain domestic and foreign institutions to clarify expectations on the development of orderly resolution plans under the U.S. Bankruptcy Code.
The OCC, the Federal Reserve Board and the FDIC proposed long-term debt requirements for large banking entities, holding companies, foreign banking organizations and large insured depository institutions to facilitate resolvability in the event of failure and to reduce the risk of contagion within the financial system.
The Congressional Research Service reviewed federal authority over financial institution insolvency and the response to the failures of Silicon Valley Bank, Signature Bank and First Republic Bank.
FDIC Chair Martin J. Gruenberg recounted the "lessons learned" from recent bank failures and reviewed proposed rulemakings.
The Congressional Research Service reviewed policy issues related to the oversight of banking agencies in light of the failures of Silicon Valley Bank and Signature Bank.