“Informational filings”– which provide details for their rapid and orderly resolution in the event of bankruptcy or other insolvencies – for six large banking companies were published Tuesday by the federal bank deposit insurance agency.
The filings were from Zions Bancorporation, Valley National Bancorp, East West Bancorp, Inc. (East West Bank), Comerica Inc. (Comerica Bank), RBC USA Holdico Corp. (City National Bank) and CIBC Bancorp USA Inc (CIBC Bank). were released by the Federal Deposit Insurance Corp. (FDIC)
The agency noted that its regulations require covered insured depository institutions (IDIs) with total assets of at least $50 billion but less than $100 billion to submit informational filings every three years. “These filings support the FDIC’s resolution readiness under the Federal Deposit Insurance Act in the event of material financial distress or failure of a covered IDI. These informational filing submissions were due by October 1, 2025,” the FDIC said.
The agency said the bank companies must provide a plan for their rapid and orderly resolution under the U.S. Bankruptcy Code (or other ordinary insolvency regime) that demonstrates how their failure would avoid serious adverse effects on financial stability in the United States.
The FDIC and the Federal Reserve review the plans, FDIC said, and may make a “determination of whether a plan is not credible or would not facilitate an orderly resolution of the firm under the U.S. Bankruptcy Code (or otherwise applicable ordinary insolvency regime).”
These plans include both confidential and public sections, the agency said.
FDIC Releases Public Sections of Informational Filings for Six Large Banks
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