Bank Holding Companies with $50 billion Assets to Submit Annual Resolution Plans to FDIC, Fed Reserve

• By: Staff Editor
• Date: November 17, 2011

In October 2011, the Federal Reserve Board approved a final rule that will implement the resolution plan requirement, part of the Dodd-Frank Wall Street Reform and Consumer Protection Act. This important financial regulation requires bank holding companies with assets of $50 billion or more and nonbank financial firms designated by the Financial Stability Oversight Council for supervision by the Board to annually submit resolution plans to the Board and the Federal Deposit Insurance Corporation (FDIC). This rule will come into effect from November 30, 2011.

This article gives an overview and summary of requirements of this final rule.