us approves rule on bank bankruptcy plans
Last Updated : GMT 16:23:05
Arab Today, arab today
Arab Today, arab today

US approves rule on bank bankruptcy plans

Arab Today, arab today

Arab Today, arab today US approves rule on bank bankruptcy plans

Washington - AFP

US regulators approved Tuesday a rule requiring 37 large US and foreign financial institutions to submit plans to allow for their orderly dismantlement in case of bankruptcy.In the wake of the 2008-2009 financial crisis, the Federal Deposit Insurance Corporation rule, which regulates banks, has adopted the rule in order to better wind up and limit the spillover damage of complex, systemically important financial institutions that fail. Set to take effect on January 1, the rule requires insured banks and other financial institutions with total assets of $50 billion or more to submit their wind-up plans in 2012 and 2013. The FDIC did not identify the 37 financial institutions covered by the rule, but said they held about $3.6 trillion in insured deposits or nearly 60 percent of all insured deposits as of December 31, 2010. The FDIC set the tightest deadline for firms with total US assets of at least $250 billion: July 1, 2012.The second group, with total nonbank assets of $100 billion or more, must file their plans by July 1, 2013, while the remaining institutions have until the end of 2013.The parent company of any foreign-based bank on the list is responsible for filing its resolution plan. A key aim of the resolution plan is to enable the FDIC to ensure that depositors receive access to their insured deposits within one business day of the institution\'s failure, the agency said. It also should maximize the return from the sale or disposition of its assets and minimize the amount of any loss to creditors. \"The rule seeks to address a key lesson from the recent financial crisis that resolution plans for large and complex insured depository intuitions are essential for their orderly and least-cost resolution,\" the FDIC said in a statement.The new rule is part of financial reforms undertaken after the bankruptcy in September 2008 of one of Wall Street\'s biggest investment banks, Lehman Brothers, which triggered a financial meltdown that led to global recession.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us approves rule on bank bankruptcy plans us approves rule on bank bankruptcy plans

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

us approves rule on bank bankruptcy plans us approves rule on bank bankruptcy plans

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Prince's vision spurs new Cornwall village

GMT 03:12 2017 Saturday ,18 November

Prince's vision spurs new Cornwall village
Arab Today, arab today Keep kids busy at Thanksgiving gatherings

GMT 11:14 2017 Friday ,10 November

Keep kids busy at Thanksgiving gatherings
Arab Today, arab today Israel ready to cooperate with Saudi

GMT 06:31 2017 Friday ,17 November

Israel ready to cooperate with Saudi
Arab Today, arab today Presenter Sherine Ramahi proud of her career

GMT 06:46 2017 Sunday ,19 November

Presenter Sherine Ramahi proud of her career
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Australian academic's book pulled

GMT 15:20 2017 Monday ,13 November

Australian academic's book pulled
Arab Today, arab today May under Brexit pressure at EU reform summit

GMT 02:14 2017 Saturday ,18 November

May under Brexit pressure at EU reform summit
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Tesla unveils its all-electric semi truck

GMT 02:59 2017 Saturday ,18 November

Tesla unveils its all-electric semi truck
Arab Today, arab today Baidu speeds up AI progress

GMT 11:46 2017 Friday ,17 November

Baidu speeds up AI progress
Arab Today, arab today Hanan Metawe denies apology for “Major Treason”

GMT 12:22 2017 Thursday ,16 November

Hanan Metawe denies apology for “Major Treason”
Arab Today, arab today paObama climate envoy slams Trump's rejection

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 08:06 2017 Wednesday ,15 November

Ayten Amer happy for “The Flood” success

GMT 11:15 2017 Thursday ,16 November

Angola oil boss sacked by father's protege

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 11:38 2017 Wednesday ,15 November

Unloved vultures fight for their survival

GMT 11:49 2017 Thursday ,17 August

Egyptian artist presents new collection of designs

GMT 06:13 2017 Friday ,17 November

Pope denounces healthcare inequality

GMT 05:18 2017 Thursday ,16 November

Boeing announces $27bn from flydubai

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday