As part of the implementation of the Dodd Frank Wall Street Reform and Consumer Protection Act, the Federal Deposit Insurance Corporation announced a series of roundtable discussions with external parties. The first discussion will take place on Tuesday, August 31, 2010, and focus on the new resolution authority provided in Dodd-Frank for the largest financial firms.
Government officials, industry executives, academics, and investors will discuss the framework of the resolution process, the treatment of creditors and the creation of living wills. Subsequent discussions will be announced on http://www.fdic.gov/financialreform/.
Participation is by invitation only, however, the FDIC will Web cast each roundtable. Interested parties may view the discussion by clicking on: http://www.fdic.gov/regulations/reform/forum.html. An archive will be made available approximately two to three days following the live Web cast.
The roundtables are part of the FDIC's overall effort to bring transparency into the process. Earlier in the month, the FDIC announced that it was seeking input from the widest audience possible by encouraging the public to submit views via email on how the FDIC should implement the new law. These comments will become part of the record and will be posted on the FDIC website. Interested parties can send comments to FinReformComments@fdic.gov.
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Congress created the Federal Deposit Insurance Corporation in 1933 to restore public confidence in the nation's banking system. The FDIC insures deposits at the nation's 7,932 banks and savings associations and it promotes the safety and soundness of these institutions by identifying, monitoring and addressing risks to which they are exposed. The FDIC receives no federal tax dollars – insured financial institutions fund its operations.
FDIC press releases and other information are available on the Internet at www.fdic.gov, by subscription electronically (go to www.fdic.gov/about/subscriptions/index.html) and may also be obtained through the FDIC's Public Information Center (877-275-3342 or 703-562-2200). PR-200-2010