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Agencies Finalize Rule to Reduce the Impact of Large Bank Failures
On Tuesday, October 20, 2020, the federal bank regulatory agencies issued a press release finalizing a rule to limit the interconnectedness and reduce the impact from failure of the largest banking organizations. The final rule is substantially similar to the proposal announced last year and complements other measures that the agencies have taken to limit interconnectedness among the largest banking organizations. The final rule is effective on April 1, 2021.