United States:
Federal Agencies Allow 84 Firms To File Reduced Content Resolution Plans
21 June 2016
Cadwalader, Wickersham & Taft LLP
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The FDIC and the Board of Governors of the Federal Reserve
System (the "Agencies") issued a decision permitting 84
foreign banking organizations with limited U.S. operations to file
reduced content resolution plans for the next three years. The
decision is meant to increase clarity and decrease the burden
involved in future filing requirements. Each of the 84 firms has
less than $50 billion in total U.S. assets. The first of their
reduced content plans must be submitted to the Agencies by December
31, 2016.
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