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Agencies Extend Filing Deadline for Certain Domestic, Foreign Banks
On Thursday, September 28, 2017, the Federal Reserve Board and the FDIC extended the next resolution plan filing deadline for eight large domestic banks by one year to July 1, 2019. The extension will provide the time needed for firms to remediate any weaknesses identified in their July 2017 submissions and to prepare and improve their next resolution plan submissions.
According to the agencies’ press release, the firms granted an extension include: Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs Group, JP Morgan Chase, Morgan Stanley, State Street Corporation, and Wells Fargo.