OLA: Difference between revisions
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imported>Doug Williamson (Update entry: Added expansion of acronym FDIC for clarity and added see also) |
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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. | 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: | ||
Revision as of 10:48, 14 January 2015
US.
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
- brokers and dealers registered with the SEC and that are members of the SIPC.
