The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) today released the public sections of resolution plans for the eight largest and most complex domestic banking organizations and 56 foreign banking organizations. These banks were required to submit resolution plans by July 1, 2025.Resolution plans, commonly known as living wills, are required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. These plans describe a banking organization's strategy for orderly resolution under bankruptcy in the event of material financial distress or failure. By regulation, resolution plans must be divided into public and confidential sections. To foster transparency, the agencies have required each banking organization's public section to summarize certain elements of the resolution plan.In addition, the FDIC released public sections of the separate resolution plans of 12 large insured depository institutions (IDIs), which are required under the FDIC's IDI Rule. These IDI resolution plans, which were also required to be submitted by July 1, 2025, are designed to enable the FDIC to efficiently resolve an IDI under the Federal Deposit Insurance Act in the event of its failure.The public sections of the resolution plans are available on the FDIC's and the Board's websites.(美联储)
