FDIC Sets Cap For Resolution Authority Borrowing

Law360, New York (April 23, 2012, 5:28 PM EDT) -- The Federal Deposit Insurance Corp. on Monday passed a pair of Dodd-Frank Act rules regarding how much the agency can spend when winding down a failed systemically important financial company, as well as the treatment for hobbled mutual insurance companies.

At an open meeting of the bank backstop, the FDIC's board voted unanimously to approve a rule setting the “maximum obligation limitation,” or essentially the amount of money the agency can borrow from the U.S. Department of the Treasury while it finds buyers for a failed...
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