Lexology PRO | European Union, Global | 19 Oct 2023
The head of the European Commission’s financial services section has admitted a “pervasive reluctance” by regulators to use the bank resolution framework in crisis situations, as he promoted plans for an “evolved” framework that extends the availability of resolution funding.
Fried Frank Harris Shriver & Jacobson LLP | USA | 31 Aug 2023
House Financial Services Committee members Dan Meuser (R-PA) and Blaine Luetkemeyer (R-MO) asked the FDIC to better assess the potential risks and…
Lexology PRO | Global, USA | 21 Aug 2023
The chair of the United States’ Federal Deposit Insurance Corporation has proposed a new requirement for banks to issue long-term debt, as part of a previewed overhaul of banks’ resolution planning requirements following this spring’s spate of high-profile failures.
Fried Frank Harris Shriver & Jacobson LLP | USA | 12 May 2023
The FDIC proposed imposing special assessments to recover losses to the Deposit Insurance Fund ("DIF") resulting from the FDIC making whole all…
Lexology PRO | European Union | 20 Apr 2023
As bank resolution suddenly shoots to the top of the regulatory agenda, the European Commission has introduced a wide-ranging plan to revise its bank crisis management framework with changes to three key directives, complaining that too many failing banks have relied on using taxpayers’ money rather than deposit guarantee schemes and resolution funds.
Lexology PRO | USA | 27 Jan 2023
The Federal Reserve has issued a new promise of a “level playing field” for banks without deposit insurance when it comes to crypto and other novel banking activities – the same day it rejected a Wyoming-chartered special purpose depository institution’s two-year-old application to join its master account system.
Clyde & Co LLP | Tanzania | 30 Jun 2021
In this article, we highlight some of the basic compliance requirements that banks and financial institutions (BFIs) and microfinance service…
Lexology PRO | European Union, Global, USA | 2 Jun 2021
The case for depositor preference: Its impact on depositors and banks, and the IMF’s position, by Arthur Rossi, research officer at the legal department of the IMF.
Morrison & Foerster LLP | USA | 2 Mar 2021
On January 22, 2021, the Federal Deposit Insurance Corporation (“FDIC”) published its final rule (“Final Rule”) revising and modernizing its…
Loyens & Loeff | Switzerland | 25 Jun 2020
On 19 June 2020, following the consultation, the Federal Council adopted the dispatch on the partial revision of the Swiss Federal Banking Act…