Press Release
☷Agencies extend resolution plan submission deadline for some large financial institutions
Federal Reserve System ( By Press Release office)
Jan 18,2024
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The Federal Reserve Board and the Federal Deposit Insurance Corporation just announced that they ' re giving certain big financial companies more time to submit their resolution plans . Instead of the deadline being July 1 , 2024 , they now have until March 31 , 2025 . These plans , also called living wills , outline how a company would handle financial trouble or failure . Last year , the agencies asked for public input on how to address challenges in these plans . They ' re still finalizing the guidance based on that feedback .
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