FDIC: Resolution Planning Rule Approved
The FDIC has finalized a rule to improve resolution planning for insured depository institutions with assets over $50 billion. Banks with assets of at least $100 billion must submit detailed plans to aid in potential failures. Smaller institutions between $50 billion and $100 billion will file simpler "informational filings." The rule mandates periodic full submissions, enhances engagement between FDIC and banks, and introduces testing of critical capabilities. It takes effect on October 1, 2024, with initial submissions due next year. [6/20/24]
