OLA: Difference between revisions
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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. | 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: | 'Financial companies' for this purpose include: | ||
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* [[Resolution]] | * [[Resolution]] | ||
* [[Resolution Authority]] | * [[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.
