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Journal Article
Implementing Dodd–Frank: orderly resolution
I would like to take the opportunity to discuss one of those challenging issues?the orderly resolution of systemically important financial institutions (SIFIs). The Dodd?Frank Wall Street Reform and Consumer Protection Act provided important new authority to the Federal Deposit Insurance Corporation (FDIC) to resolve SIFIs. Prior to the recent crisis, the FDIC?s receivership authority was limited to federally insured banks and thrift institutions. There was no authority to place the holding company or affiliates of an insured institution or any other nonbank financial company into an FDIC ...