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Comments due: FDIC, Federal Reserve (proposed guidance; resolution plans for FBOs)
The Board and the FDIC (together, the “agencies”) are inviting comments on proposed guidance for the 2021 and subsequent resolution plan submissions by certain foreign banking organizations (“FBOs”). The scope of application of the proposed guidance would be FBOs that are triennial full filers and whose intermediate holding companies (“U.S. IHCs”) have a score of 250 or more under the second methodology (“method 2”) of the global systemically important bank (“GSIB”) surcharge framework. On April 27, the agencies extended the comment deadline an additional 30 days (from May 5).