EBA and US agencies sign framework cooperation arrangement on bank resolution

03/10/2017 | Clifford Chance

The EBA has signed a framework cooperation agreement with several US financial regulatory agencies, laying the foundation for future cooperation arrangements on bank crisis management and resolution between any EU supervisory or resolution authority and any of the participating US agencies. The framework covers a variety of crisis management topics, including early intervention, resolution planning, resolvability assessment and resolution. It is intended to promote resolution planning and cooperation for cross-border institutions.

 

The US agencies participating are the Board of Governors of the Federal Reserve System, the Federal Deposit Insurance Corporation (FDIC), the Office of the Comptroller of the Currency (OCC), the Securities and Exchange Commission (SEC) and the New York State Department of Financial Services.