FDIC to Centralize Key Aspects of Its Large, Complex Financial Institution Activities — 2019-06-27

The Federal Deposit Insurance Corporation (FDIC) today announced its intentions to centralize the supervision and resolution activities for the largest banks and complex financial institutions in a new division to be named the Division of Complex Institution Supervision and Resolution (CISR). “Centralizing the FDIC’s expertise of large, complex financial institutions into a single division within the Agency will enable us to take a more holistic approach to the supervision and resolution of these institutions and the unique challenges they present,” said FDIC Chairman Jelena McWilliams. The new division will be responsible for the Agency’s supervision and monitoring of banks with assets greater than $100 billion for which the FDIC is not the primary federal regulator. On the resolution side, the new division will be responsible for planning for and executing the FDIC’s resolution mandates for these institutions, as well as for other financial companies if called upon to protect U.S. financial stability.