FDIC Names Five New Members to Its Systemic Resolution Advisory Committee — 2020-07-23

WASHINGTON—The Federal Deposit Insurance Corporation (FDIC) today named five new members to its Systemic Resolution Advisory Committee (SRAC), which was created by the Board of Directors in 2011 to provide the agency with advice and recommendations on a broad range of issues regarding the resolution of systemically important financial companies. "The FDIC is fortunate to have these distinguished individuals join this Advisory Committee. Their collective knowledge will be a tremendously valuable resource for us to draw on," said FDIC Chairman Jelena McWilliams. The SRAC, which is comprised of 16 members, is intended to facilitate discussion on how the FDIC’s resolution authority granted under the Dodd-Frank Act of 2010 may impact covered entities and others. It serves in an advisory capacity and does not have final decision-making authority, or access to any non-public, confidential information on any organizations.