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January 08, 2015

The Financial Stability Oversight Council ("FSOC") requested public comments on a proposal to implement the qualified financial contract ("QFC") recordkeeping requirements of Dodd-Frank. The proposed rules provide information intended to assist the Federal Deposit Insurance Corporation ("FDIC"), acting as a receiver, to: fulfill its obligations under the Dodd-Frank Act in deciding whether to transfer QFCs; assess the consequences of decisions to transfer, disaffirm or repudiate, or to allow the termination of, QFCs with one or more counterparties; and determine if any financial systemic risks

May 12, 2015

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