• On April 15th, the Federal Reserve Board and FDIC provided additional guidance to the first 11 institutions required to file resolution plans in accordance with the Dodd-Frank Act. The guidance pertains to the plans the firms are scheduled to file this year. The revised instructions include requests for more detailed information on obstacles to resolvability under the Bankruptcy Code (including global issues), financial market utility interconnections, funding and liquidity, and requests for more analysis to support the strategies and assumptions contained in the firms' resolution plans. The Board and the FDIC also extended the filing date to give the firms additional time to develop resolution plan submissions that address the agencies' instructions. Accordingly, the 2013 resolution plan filing deadline will move from July 1, 2013 to October 1, 2013. The extension does not affect resolution plan submission dates for other banking organizations. Joint Press Release.