Joint Release/Single Resolution Board and Federal Deposit Insurance Corporation sign Cooperation Arrangement — 2017-12-14

Single Resolution Board and Federal Deposit Insurance Corporation sign Cooperation Arrangement The Cooperation Arrangement (CA) between the Single Resolution Board (SRB) and the Federal Deposit Insurance Corporation (FDIC) further strengthens the close cooperation between the two organizations in compliance with the legal frameworks in the United States and the European Union. Many large financial institutions have a global presence. Officials from the SRB and FDIC are continuously coordinating with other resolution authorities, tackling the challenges of bank resolution and preparing for effective cross border resolution, if needed. Cooperation among resolution authorities is important to help ensure that Global Systemically Important Banks (GSIBs) can fail without major systemic consequences. Bilateral arrangements signed between resolution authorities to underpin this cooperation are an important ingredient for building resolvability together and for advance planning for resolution. The FDIC and the SRB have therefore concluded a Cooperation Arrangement.