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Advanced Search About the Fed News & Events Monetary Policy Supervision & Regulation Payment Systems Economic Research Data Consumers & Communities Board of Governors of the Federal Reserve System The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system. Home > News & Events > Press Releases Joint Press Release April 12, 2011 Agencies seek comment on resolution plan reporting Board of Governors of the Federal Reserve System Federal Deposit Insurance Corporation For immediate release Share Large, systemically significant bank holding companies and nonbank financial companies would be required to submit annual resolution plans and quarterly credit exposure reports under a rule proposed by the Federal Reserve Board and the Federal Deposit Insurance Corporation. The agencies are requesting comment by June 10, 2011, on the proposal, which would implement requirements of the Dodd-Frank Wall Street Reform and Consumer Protection Act. The requirements apply to bank holding companies with total consolidated assets of $50 billion or more and nonbank financial companies designated by the Financial Stability Oversight Council for supervision by the Board. The annual resolution plan would be required to describe the company's strategy for rapid and orderly resolution in bankruptcy during times of financial distress. A company would also have to describe how resolution planning and oversight of the resolution planning process fits into the company's overall governance structure. In addition, it would be required to include a detailed listing and description of all significant interconnections and interdependencies among major business lines and operations of the company that, if disrupted, would materially affect the funding or operations of the company or its major operations. The quarterly credit exposure report would be required to describe the nature and extent of the company's credit exposure to other large financial companies, as well as the nature and extent of credit exposure by other large financial companies to the company. The credit exposure report would be required to include information related to the aggregate credit exposure associated with a range of transactions. Federal Register notice: HTML | PDF (110 KB) Comments: Submit | View Media Contacts: Federal Barbara Reserve Hagenbaugh FDIC David Barr 202-4522955 202-8986992 Last Update: April 12, 2011 BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM About the Fed News & Events Monetary Policy Supervision & Regulation Payment Systems Economic Research Data Consumers & Communities Financial Stability TOOLS AND INFORMATION STAY CONNECTED Contact Publications Freedom of Information (FOIA) Office of Inspector General Budget & Performance | Audit No FEAR Act Español Website Policies | Privacy Program Accessibility BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM 20th Street and Constitution Avenue N.W., Washington, DC 20551