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Info for next large firm resolution plans released
A joint press release posted yesterday by the Fed and the FDIC released a June 29, 2020, letter to the eight largest and most complex domestic banking organizations with information that will guide their next resolution plans, which are due by July 1, 2021. The 2021 plans will be required to include core elements of a firm's resolution plan—such as capital, liquidity, and recapitalization strategies—as well as how each firm has integrated changes to and lessons learned from its response to the coronavirus into its resolution planning process.