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On May 12, 2015, Martin J. Gruenberg, Chairman of the US Federal Deposit Insurance Corporation, delivered a speech regarding the progress the FDIC has made in developing a framework...
On May 12, 2015, Martin J. Gruenberg, Chairman of the US Federal
Deposit Insurance Corporation, delivered a speech regarding the
progress the FDIC has made in developing a framework for the
orderly resolution of large, complex, systemically important
financial institutions (SIFIs) in the event that a SIFI experiences
failure or other financial distress. Among other topics, the speech
addressed the FDIC's effort to strengthen the bankruptcy
process and define the purpose of Orderly Liquidation Authority, a
public-sector bankruptcy process prescribed by the Dodd-Frank Wall
Street Reform and Consumer Protection Act (Dodd Frank Act) for
institutions whose resolution under the US Bankruptcy Code
Bankruptcy Code would pose systemic concerns.
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