Federal Reserve and FDIC Release Proposal to Tailor Resolution Planning Requirements

Federal Reserve and FDIC Release Proposal to Tailor Resolution Planning Requirements

April 18, 2019, Covington Alert

On April 8, 2019, the Board of Governors of the Federal Reserve System (the “Board”) approved a notice of proposed rulemaking (the “Resolution Plan Proposal” or the “Proposal”), issued jointly with the Federal Deposit Insurance Corporation (the “FDIC,” and together with the Board, the “Agencies”), that would revise the Agencies’ jointly issued resolution planning regulation (the “Rule”), which implements section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank”).