Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive
150x172_CUEffect.jpg
Contacts
LISA MCCUEVICE PRESIDENT OF COMMUNICATIONS
EDITOR-IN-CHIEF
MICHELLE WILLITSManaging Editor
RON JOOSSASSISTANT EDITOR
ALEX MCVEIGHSTAFF NEWSWRITER
TOM SAKASHSTAFF NEWSWRITER

News Now

Market
News of the Competition (08/18/2014)
  • WASHINGTON (8/18/14)-- On Friday, t he Federal Reserve Board and the Federal Deposit Insurance Corp. provided additional guidance to 117 banks with less than $100 billion in nonbank assets as they prepare to resubmit resolution plans for a second time. The plans must outline the company's strategy for rapid and orderly resolution under the U.S. Bankruptcy Code in the event of material financial distress or failure of the company. Among the guidelines: A covered company must not rely on the provision of extraordinary support by the United States or any other government to the covered company or its subsidiaries to prevent the failure of the covered company. Thirty-one of the firms are required to file a full resolution plan that takes into account obstacles such as global issues, financial market utility interconnections, and funding and liquidity. Twenty-five firms with less complex U.S. operations can file tailored plans, use the model template issued by the agencies or follow previously released guidelines. Lastly, 61 firms with limited U.S. operations may focus on material changes to their initial plans. The second plans are due to the agencies on or before Dec. 31 ...


RSS





print
News Now LiveWire
Maine credit unions put Food Mobile on the road to relieving hunger in rural areas http://t.co/R0xpt6BAZE
1 Day ago
.@TheNCUA's Matz: PALS should be exempt from Military Lending Act proposal #NewsNow http://t.co/Vy9uNhOIEr
1 Day ago
#NewsNow Iowa loan growth 3 times national bank rate http://t.co/fUvudPLg5d
1 Day ago
.@ICBA tallies its Home Depot data breach costs: $90M, 7.5M cards http://t.co/iJgRDC2AKZ
1 Day ago
.@icul's Jury elected treasurer of @WOCCU exec committee http://t.co/HEF1UChN8f
1 Day ago