PRESS RELEASE
Federal Deposit Insurance Corporation Each Depositor insured to at least $250,000
December 10, 2013
Media Contact:
Andrew Gray
(202) 898-7192
angray@fdic.gov
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's
banking system. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing
risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its
operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically
(go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information
Center (877-275-3342 or 703-562-2200). PR-112-2013
FDIC Board Releases Resolution Strategy for Public Comment
FOR IMMEDIATE RELEASE
The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today
approved for publication in the Federal Register the Single Point of Entry (SPOE)
strategy for the resolution of Systemically Important Financial Institutions (SIFIs) with
request for comment.
After consultation with public and private sector stakeholders, the FDIC has been
developing the SPOE strategy to achieve the policy goals outlined in Title II of the
Dodd-Frank Act. The FDIC is required under the Act to resolve a SIFI in a manner that
holds accountable the owners and management responsible for the failure of the
company while maintaining the stability of the U.S. financial system. Creditors and
shareholders must bear the losses of the financial company in accordance with
statutory priorities and without imposing a cost on U.S. taxpayers.
FDIC Chairman Martin J. Gruenberg said, "The purpose of today's Board action is to
seek public comment on the single point of entry strategy that the FDIC is developing
under Title II of the Dodd-Frank Act. The FDIC has provided greater detail on how it
envisions the implementation of various aspects of this strategy including such key
issues such as capital, liquidity, governance and restructuring. The FDIC looks forward
to detailed public comment to further inform our resolution strategy planning."
The Single Point of Entry Strategy will be published in the Federal Register and open for
public comment for 60 days after publication.
Federal Deposit Insurance Corporation Each Depositor insured to at least $250,000
December 10, 2013
Media Contact:
Andrew Gray
(202) 898-7192
angray@fdic.gov
Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's
banking system. It promotes the safety and soundness of these institutions by identifying, monitoring and addressing
risks to which they are exposed. The FDIC receives no federal tax dollars — insured financial institutions fund its
operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically
(go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information
Center (877-275-3342 or 703-562-2200). PR-112-2013
FDIC Board Releases Resolution Strategy for Public Comment
FOR IMMEDIATE RELEASE
The Board of Directors of the Federal Deposit Insurance Corporation (FDIC) today
approved for publication in the Federal Register the Single Point of Entry (SPOE)
strategy for the resolution of Systemically Important Financial Institutions (SIFIs) with
request for comment.
After consultation with public and private sector stakeholders, the FDIC has been
developing the SPOE strategy to achieve the policy goals outlined in Title II of the
Dodd-Frank Act. The FDIC is required under the Act to resolve a SIFI in a manner that
holds accountable the owners and management responsible for the failure of the
company while maintaining the stability of the U.S. financial system. Creditors and
shareholders must bear the losses of the financial company in accordance with
statutory priorities and without imposing a cost on U.S. taxpayers.
FDIC Chairman Martin J. Gruenberg said, "The purpose of today's Board action is to
seek public comment on the single point of entry strategy that the FDIC is developing
under Title II of the Dodd-Frank Act. The FDIC has provided greater detail on how it
envisions the implementation of various aspects of this strategy including such key
issues such as capital, liquidity, governance and restructuring. The FDIC looks forward
to detailed public comment to further inform our resolution strategy planning."
The Single Point of Entry Strategy will be published in the Federal Register and open for
public comment for 60 days after publication.
Attachment: The Resolution of Systemically Important Financial Institutions: The Single
Point of Entry Strategy - PDF (PDF Help)
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Point of Entry Strategy - PDF (PDF Help)
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