Joint Release/Agencies Extend Deadline for 38 Resolution Plan Submissions — 2016-08-02

Agencies Extend Deadline for 38 Resolution Plan Submissions The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) on Tuesday announced that 38 firms will be required to submit their next resolution plans by December 31, Previously, the firms were required to submit their next plans by December 31, 2016. These firms include 36 domestic bank holding companies and foreign banking organizations, as well as two nonbank financial companies designated by the Financial Stability Oversight Council (FSOC). A list of the 38 firms can be found in the attached document. The agencies expect to provide feedback and guidance based on the firms' December 2015 plans for use in their December 2017 submissions. This extension will allow the firms additional time to incorporate feedback and guidance into their next plan submissions. The agencies provided a similar extension to other firms.