Comments on a joint FRB and FDIC Advance Notice of Proposed Rulemaking soliciting feedback on whether the agencies should strengthen large bank resolution standards are due by December 23, 2022.
The Federal Reserve Board and the FDIC solicited feedback on "whether an extra layer of loss-absorbing capacity could improve optionality in resolving a large banking organization or its insured depository institution, and the costs and benefits of such a requirement."
Federal Reserve Board Governor Michelle W. Bowman outlined her perspective on supervision and regulation of the banking industry and highlighted the costs of over-regulation.
The FDIC and the Federal Reserve Board extended the deadline to issue feedback to U.S. global systemically important banks on their 2021 resolution plans.
Senior officials from the Bank of England, the FDIC, the CFTC, the SEC and the Federal Reserve Board reviewed joint progress on central counterparty resolution issues and on the development of detailed operational planning to support prototype resolution strategies for UK and U.S. CCPs.