April 22, 2019

FDIC approved an Advance Notice of Proposed Rulemaking (ANPR) and is seeking comment on ways to tailor and improve its rule requiring certain insured depository institutions (IDIs) to submit resolution plans. Comments on the ANPR must be received by June 21, 2019.

FDIC is undertaking a comprehensive review of the IDI rule. Advanced resolution planning is critically important for the largest IDIs to ensure that FDIC has timely access to the information it would need to execute a resolution under the Federal Deposit Insurance Act. The ANPR seeks comment on ways to make the process more efficient and less time consuming without diminishing its benefits. The IDI rule requires IDIs with more than USD 50 billion in assets to submit resolution plans that should enable FDIC to resolve the institution in the event of insolvency. Among other issues, the agency is considering revising the USD 50 billion threshold for application of the rule and tiering the requirements of the rule based on the size, complexity, or other characteristic of an IDI. The agency is also seeking feedback on ways to streamline plan submissions for larger, more complex firms and on whether to replace plan submissions with periodic engagement and capabilities testing for smaller, less complex firms that are subject to the rule. The FDIC Board also voted to delay the next round of submissions under the IDI Rule until the rulemaking process has been completed.

 

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Comment Due Date: June 21, 2019

Keywords: Americas, US, Banking, Insured Depository Institutions, Resolution Planning, Proportionality, Dodd-Frank Act, FDIC

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