FDIC issues final rule, resolution plans required for large banks

The Federal Deposit Insurance Corporation Board of Directors voted on a final rule mandating resolution plans from insured depository institutions (IDIs) with total assets of $100 billion or more, and informational filings from IDIs with assets between $50 billion and $100 billion. The final rule updates the current requirements concerning the content and timing of full resolution submissions and interim supplements provided to the FDIC.

The final rule comes following the public comment period on the proposed rule published in September 2023. The news statement says several changes were made after “careful consideration of comments received.”

The rule will take effect Oct. 1. Read more on the final rule here.