Joint Proposed Rule on Resolution Plan Reporting

On April 12, the Fed and the FDIC released a proposed rule pursuant to Section 165(d) of the Dodd-Frank Act which would require systemically significant bank holding companies and nonbank financial companies to submit annual resolution plans and quarterly credit exposure reports. The requirements would apply to bank holding companies with consolidated assets of $50 billion or more or nonbank financial companies designated by the Financial Stability Oversight Council for supervision by the Fed. Comments must be submitted by June 10. Joint Release. Proposed Rule.