This story appeared in Bank Digest.
The Federal Insurance Deposit Corporation is publishing an advance notice of proposed rulemaking on ways it could tailor living will requirements for the banks and savings associations it supervises. The ANPR suggests possible changes in three areas: (1) creating tiered planning requirements based on each institution's size and complexity, as well as other factors; (2) reducing the frequency and required content for resolution plans, and eliminating the filing obligation for some smaller and less complex institutions; and (3) improving the communication between the agency and the institutions.
According to an FDIC staff memorandum, the agency is considering two possible approaches, one with three tiers and the other with two. Since the FDIC may adopt living will rule amendments before affected banks and thrifts are required to file their plans--July 1, 2020--the ANPR asks if filing should be delayed until the agency reaches and implements a decision. Comments on the ANPR must be received within 60 days of its publication in the Federal Register.