On 2 July 2014, the Federal Reserve Board and the FDIC released certain public portions of annual resolution plans for seventeen financial firms. The plans are mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act (“Dodd-Frank Act”) which requires that bank holding companies with total consolidated assets of $50 billion or more and nonbank financial companies designated by the Financial Stability Oversight Council (“FSOC”) periodically submit resolution plans to the FDIC and the Federal Reserve Board. Under the Dodd-Frank Act, each plan is divided into a public section and a confidential section and must describe the company’s strategy for rapid and orderly resolution under the US Bankruptcy Code in the event the company experiences material financial distress or failure.

The public sections of the plans are available on the FDIC and Federal Reserve Board websites at: http://www.fdic.gov/regulations/reform/resplans/ and http://federalreserve.gov/bankinforeg/resolution-plans.htm