FDIC renews charter for systemic resolution advisory panel

The charter for a committee that advises the federal bank deposit insurer on matters related to the resolution of systemically important financial companies was renewed Monday, according to a notice filed with the Federal Register.

The Federal Deposit Insurance Corp. (FDIC), in the notice, stated that the committee “will continue to provide advice and recommendations on how the FDIC’s systemic resolution authority, and its implementation, may impact regulated entities and other stakeholders potentially affected by the process.”

The Systemic Resolution Advisory Committee (FACA) was established under authority of the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank). In place since 2011, the panel has 16 members, among them former heads of the FDIC, Office of the Comptroller of the Currency (OCC), Securities and Exchange Commission (SEC), and former officials of the Federal Reserve System.

The committee’s most recent meeting was in December.

FDIC Systemic Resolution Advisory Committee; Notice of Charter Renewal

RR: FDIC chair proclaims ‘bailouts not right’ as systemic resolution committee meets (Dec. 6, 2018)

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