OLA: Difference between revisions
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imported>Doug Williamson (Update entry: Added expansion of acronym FDIC for clarity and added see also) |
imported>Doug Williamson (Mend link.) |
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''US | ''US - bank supervision'' | ||
Orderly Liquidation Authority, Title II of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010. | Orderly Liquidation Authority, Title II of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010. | ||
It created a new federal receivership process whereby the Federal Deposit Insurance Corporation ([[FDIC]]) may serve as receiver for large, interconnected financial companies, including broker-dealers, whose failure poses a significant risk to the financial stability of the United States. | |||
* | |||
* | |||
* | 'Financial companies' for this purpose include: | ||
* | * Bank holding companies; | ||
* Non-bank financial companies supervised by the [[Board of Governors of the Federal Reserve System]], including non-bank financial companies that the [[Financial Stability Oversight Council]] has determined must be supervised by the Board of Governors; | |||
* Subsidiaries of entities in the two previous categories - other than subsidiaries that are insured depository institutions or insurance companies; and | |||
* Brokers and dealers registered with the [[Securities and Exchange Commission]] and that are members of the [[SIPC]]. | |||
==See also== | ==See also== | ||
* [[Dodd-Frank]] | * [[Dodd-Frank]] | ||
* [[Resolution]] | |||
* [[Resolution Authority]] | |||
* [[Securities Investor Protection Corporation]] (SIPC) | |||
[[Category:Accounting,_tax_and_regulation]] | |||
[[Category:The_business_context]] | |||
Latest revision as of 06:27, 27 June 2022
US - bank supervision
Orderly Liquidation Authority, Title II of the Dodd–Frank Wall Street Reform and Consumer Protection Act of 2010.
It created a new federal receivership process whereby the Federal Deposit Insurance Corporation (FDIC) may serve as receiver for large, interconnected financial companies, including broker-dealers, whose failure poses a significant risk to the financial stability of the United States.
'Financial companies' for this purpose include:
- Bank holding companies;
- Non-bank financial companies supervised by the Board of Governors of the Federal Reserve System, including non-bank financial companies that the Financial Stability Oversight Council has determined must be supervised by the Board of Governors;
- Subsidiaries of entities in the two previous categories - other than subsidiaries that are insured depository institutions or insurance companies; and
- Brokers and dealers registered with the Securities and Exchange Commission and that are members of the SIPC.
