FDIC and Bank of England signal significant cooperation on resolution issues in joint paper

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FDIC and Bank of England signal significant cooperation on resolution issues in joint paper describing “single point of entry” resolution of a cross-border SIFI - .PDF file.

On 10 December 2012, the Federal Deposit Insurance Corporation and the Bank of England released a joint paper entitled Resolving Globally Active, Systemically Important, FinancialInstitutions outlining a resolution strategy for global systemically important financial institutions. This paper and deputy governor Tucker’s comments at the SRAC demonstrate the continuing cooperation between the FDIC and the BoE and are the product of their increasingly close collaboration in recent years.

Click on the link above to download this Cleary Gottlieb briefing.