An open meeting of the panel that advises the Federal Deposit Insurance Corp. (FDIC) on policy related to the resolution of systemically important financial institutions is scheduled to meet Nov. 9 at 9 a.m., the agency said Thursday.
The 5 1/2-hour meeting of the Systemic Resolution Advisory Committee (SRAC) will address the FDIC’s resolution authority under the Dodd-Frank Wall Street Reform and Consumer Protection Act (Dodd-Frank) to manage the orderly resolution of large, complex financial institutions whose failure could threaten U.S. financial stability, the agency said.
A notice of the meeting was published in the Federal Register Oct. 20. The meeting will be viewable in person and via webcast, according to the notice.
The FDIC also said it has named two new members to the SRAC: Tim P. Clark, Distinguished Senior Banking Adviser for Better Markets and a former deputy director of supervision and regulation at the Federal Reserve Board; and Frank La Salla, President and Chief Executive Officer at DTCC, and President and Chief Executive Officer of DTC, FICC and NCSS.
The FDIC said SRAC members have a wide range of experience managing complex firms; administering bankruptcies; and working in the legal, financial, regulatory, and academic fields.
Among the other 15 panel members are Sheila Bair, a former FDIC chairman; Ben Bernanke, former Fed Board chair and now a Distinguished Fellow in residence with the Economic Studies Program at the Brookings Institution; and Donald Kohn, a former Fed vice chair and now Senior Fellow in the Economic Studies Program at the Brookings Institution.