Fed Asks for Comments on Resolution-Related Studies

This story appeared in Bank Digest.

The Fed is seeking information that will help it conduct two studies required by the Dodd-Frank Act--one on the resolution of financial companies under Chapter 7 or Chapter 11 of the U.S. Bankruptcy Code and one on international coordination relating to the resolution of systemic financial companies under the Bankruptcy Code and applicable foreign law. Issues include whether amendments to the Bankruptcy Code are needed, whether a special court or panel of masters should be created and how international cooperation can be enhanced.