FDIC OKs Publication Of Strategy For Big Bank Wind-Downs

Law360, Washington (December 10, 2013, 5:24 PM ET) -- The Federal Deposit Insurance Corp. on Tuesday readied for publication a strategy for taking apart a failed global financial institution as required under the Dodd-Frank Act, saying its plan would hold shareholders, debt holders and "culpable management" accountable for the failure of the firm.

The FDIC's Board of Directors approved for publication in the Federal Register the so-called Single Point of Entry strategy for the resolution of Systemically Important Financial Institutions. The strategy will be open for public comment for 60 days after publication, the FDIC...
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