On February 25th, the FDIC announced that on February 19, 2013, FDIC representatives met with their European Commission counterparts to discuss issues related to the resolution of banks and systemically important financial institutions ("SIFI’s") and to deposit insurance regimes. Topics discussed included the EC’s proposed directive on bank recovery and resolution; deposit guarantee regimes; the FDIC’s work on planning for SIFI resolutions; and future initiatives that might be undertaken related to cross-border cooperation. A working group is expected to meet twice a year with less formal communications occurring in between. FDIC Press Release.