In an effort to ensure that no banking organization is too big to fail, US and European regulators are requiring systemically important banking institutions to file plans that explain how they would recover from an economically distressed situation and how they could be resolved or liquidated safely in the event of failure. In developing these plans, globally important banks will have to deal with regulators in different countries and with different resolution tools. Our panel will review the final resolution plan regulation in the U.S. and the emerging requirements in the UK and Europe.
Topics will include:
- The objectives of recovery and resolution plans
- Resolution powers of the regulators
- The capacity of recovery and resolution planning to avert the next financial crisis
- Content of a plan
- The process for developing a plan
- Criteria for an acceptable plan
- Dealing with different national regulators
- Viral Acharya, New York University Stern School of Business
- Peter Green, Morrison & Foerster (UK) LLP
- Jeremy Jennings-Mares, Morrison & Foerster (UK) LLP
- Dwight Smith, Morrison & Foerster LLP
CLE credit is pending.