The US Federal Reserve Board and the US Federal Deposit Insurance Corporation made portions of resolution plans, for firms with generally less than $100 billion in qualifying nonbank assets, publically available. Certain banking organizations with total consolidated assets of $50 billion or more and nonbank financial companies designated for enhanced prudential supervision by the Financial Stability Oversight Council are required to periodically submit resolution plans to the Federal Reserve Board and the FDIC. A resolution plan contains both a public and confidential section describing the company’s strategy for rapid and orderly resolution in the event of material financial distress or failure of the company. The FDIC also released the public sections of the recently filed resolution plans of 22 insured depository institutions, the majority of which are subsidiaries of bank holding companies. The insured depository institution plans are mandated by a separate regulation issued by the FDIC requiring a covered insured depository institution with assets greater than $50 billion to submit a plan under which the FDIC might resolve the institution under the Federal Deposit Insurance Act.

View the public portions of resolution plans required by the Federal Reserve Board.

View the public portions of resolution plans required by the FDIC.

The European Banking Authority published for consultation draft Implementing Technical Standards which set out the procedures, forms and templates for the preparation of resolution plans by resolution authorities. To obtain the information needed to prepare a resolution plan for a particular firm, the EBA is proposing that resolution authorities first request the information from the firm’s national regulator. If the national regulator does not have the relevant information or the information is not available in the required format, then the resolution authority may approach the firm directly for the information. When a firm provides the information to the resolution authority, it must do so using the proposed forms and templates. The forms and templates are in Excel format and cover organizational structure, governance and management, critical functions and core business lines, critical counterparties, structure of liabilities, funding sources, off-balance sheet, payment systems, information systems, interconnectedness, authorities and legal framework, in line with the required information under the Bank Recovery and Resolution Directive. The forms and templates will be the minimum set of harmonized information which group-level resolution authorities must share with the EBA, relevant EU resolution authorities and national regulators, as required under the BRRD. Responses to the consultation are due by April 14, 2015.

View the consultation paper.