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Federal Reserve (2014b)Guidance for 2013 Section 165(d) Annual Resolution Plan Submissions by Foreign-Based Covered Companies that Submitted Initial Resolution Plans in 2012here

Introduction (partial)

"Section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act (12 U.S.C. Section 5365(d)) requires certain financial companies ("Covered Companies") to report periodically to the Board of Governors of the Federal Reserve System (the "Federal Reserve" or "Board") and the Federal Deposit Insurance Corporation (the "FDIC") (together "the Agencies") the Companies' Plans for Rapid and Orderly Resolution in the event of Material Financial Distress or failure. On November 1, 2011 the Agencies promulgated a joint rule (the "Rule") implementing the provisions of Section 165(d), 12 C.F.R. Parts 243 and 381. Certain Covered Companies meeting criteria set out in the Rule or separately required by the Agencies filed their initial resolution plans in 2012. These Covered Companies must file an annual resolution plan in 2013 ("Plan"). Within the framework and subject to the requirements of the Rule, this document provides further clarification, guidance and direction for the preparation of a Non-U.S. Covered Company’s Plan."


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