The FDIC and FRB – which share authority in this area – have finalized proposed changes to their resolution-planning rules following EGRRCPA enactment and their own conclusions about beneficial revisions. The most important of these will change living-will filings as detailed below to make complete filings less frequent, alleviating burden due to delays between plan submission and regulatory feedback which made it difficult for companies to anticipate regulatory concerns as they undertake planning while awaiting guidance. The agencies also believe that covered companies have significantly improved their resolvability, making unnecessary the current schedule.
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