Get Full Government Meeting Transcripts, Videos, & Alerts Forever!
Get email alerts on the Resolution Planning topic
No spam. Unsubscribe anytime.
FDIC to start reforms of IDI rule after living‑will debate, chairman says
Summary
Chairman Travis Hill said the FDIC is reevaluating aspects of its resolution preparedness, starting with reforms to the IDI rule to address burdens and legal questions raised about living wills; he said legal and statutory context, including Dodd‑Frank considerations, will inform changes.
Reporters asked about recent resolution‑planning votes and comments from other regulators that questioned the legal footing of living wills. Aidan Reiter of Politico cited board comments — including those by Comptroller Gould — and asked whether the FDIC would take those concerns into account in future living‑will versions.
Chairman Travis Hill said the agency has “been doing a lot of work to reevaluate and reconsider many aspects of our resolution function,” including rules related to resolution planning. He said the FDIC plans to start with reforms to the IDI rule and expects to be ready to propose changes in the “relatively near future,” adding that the legal and statutory context is an important consideration.
Hill described the goals as improving preparedness to resolve a large institution while being mindful of the burdens placed on firms. He said the agency seeks consensus with other agencies and is reviewing multiple aspects of resolution planning and preparedness but did not provide a rule text or a timetable beyond the near‑term proposal to revise the IDI rule.
