Joint Release/Agencies Extend Comment Period on Updates to Resolution Plan Guidance for Large Foreign Banks — 2020-04-27

Board of Governors of the Federal Reserve System Joint Release Federal Deposit Insurance Corporation Agencies Extend Comment Period on Updates to Resolution Plan Guidance for Large Foreign Banks The Federal Deposit Insurance Corporation and the Federal Reserve Board today announced that they will extend, by 30 days, the comment period for the agencies' proposed guidance for resolution plans submitted by certain large foreign banks. The extension will allow interested parties additional time to analyze the issues and to prepare comments through June 4, 2020. The proposed guidance, issued in March, would provide additional information on the agencies' expectations for the resolution plans of certain large foreign banks, which, under the proposal, would include the U.S. operations of Barclays, Credit Suisse, and Deutsche Bank. The proposal had asked for comments by May 5, 2020.