Statement by Chairman Travis Hill on Title I Feedback Letters and Resolution-Related Reforms

Today, the FDIC and Federal Reserve Board announced the approval of joint agency feedback letters in response to the 2025 resolution plan submissions of the eight U.S. global systemically important banks (GSIBs) and 56 foreign-based firms. As we review resolution plan submissions, we continue to reevaluate many aspects of how the FDIC plans for and executes resolving a large bank. I have talked about some of these activities in the past,¹ and I expect to provide additional details on our work in these areas in the near future. Among other things, we plan to propose amendments to the FDIC's IDI Rule for large insured depository institutions in the coming weeks, are reevaluating several other resolution-related rules and policies, and expect to engage with the Federal Reserve Board on reconsidering elements of the Title I resolution planning process. As we make progress on these and related workstreams, our general objectives are to improve the FDIC's preparedness to resolve a large bank, incorporate lessons learned from recent and historical bank failures, and rescind or modify requirements where the benefits do not justify the burdens.