Joint Release/Agencies Provide Feedback on Second Round Resolution Plans of "First-Wave" Filers — 2014-08-05

Board of Governors of the Federal Reserve System Joint Release Federal Deposit Insurance Corporation Agencies Provide Feedback on Second Round Resolution Plans of "First-Wave" Filers Firms Required to Address Shortcomings in 2015 Submissions The Board of Governors of the Federal Reserve System and the Board of Directors of the Federal Deposit Insurance Corporation announced the completion of reviews of the second round of resolution plans submitted by 11 large, complex banking organizations in 2013. The agencies have issued letters to each of these banking organizations. In their review of the resolution plans, the agencies noted some improvements from the original plans submitted by these "first-wave filers" in 2012. Among the improvements were the narratives and the attempts to address the five obstacles identified in guidance issued by the agencies in April 2013.