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Comment Period: Guidance for Resolution Plan Submissions of Domestic Triennial Full Filers

AGENCIES: Board of Governors of the Federal Reserve System (Board) and Federal Deposit Insurance Corporation (FDIC).

ACTION: Proposed guidance; request for comments.

SUMMARY: The Board and the FDIC (together, the agencies) are inviting comments on proposed guidance for the 2024 and subsequent resolution plan submissions by certain domestic banking organizations. The proposed guidance is meant to assist these firms in developing their resolution plans, which are required to be submitted pursuant to Section 165(d) of the DoddFrank Wall Street Reform and Consumer Protection Act, as amended (the Dodd-Frank Act), and 12 CFR Parts 243 and 381 (the Rule). The scope of application of the proposed guidance would be domestic triennial full filers (specified firms or firms).1 The proposed guidance is based on the agenciesā€™ review of the specified firmsā€™ 2021 and prior resolution plan submissions, as well as the agenciesā€™ experiences resolving several large domestic banking organizations, and would describe the agenciesā€™ expectations regarding several aspects of the specified firmsā€™ plans for an orderly resolution under the U.S. Bankruptcy Code. The agencies invite public comment on all aspects of the proposed guidance.

DATES: Comments must be received by November 30, 2023.

  • November 30, 2023
  • Time: All Day