Acting Comptroller Issues Statement on FDIC and Federal Reserve Board ANPR on Resolution-Related Resource Requirements for Large Banking Organizations — 2022-10-18

WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today issued the following statement at the Federal Deposit Insurance Corporation (FDIC) board meeting: I support the FDIC's joint issuance with the Federal Reserve of this Advance Notice of Proposed Rulemaking (ANPR) on resolution-related resource requirements for large banking organizations. The time is right for this ANPR. As I noted in remarks I gave at the Wharton School of the University of Pennsylvania in April of this year, the growth of large U.S. banking organizations warrants our attention. The number, size, and complexity of large banks – especially non-global systemically important banks (GSIBs) – have increased materially over the years. Reevaluating the resolvability risks and requirements for these firms will help to mitigate the risk of a new class of too-big-to-fail firms from emerging. At the same time, it is critical that our actions as regulators promote competition.