FDIC Extends Public Comment Period for Single Point of Entry Resolution Strategy
February 18, 2014
Andrew Gray (202) 898-7192
The Federal Deposit Insurance Corporation (FDIC) has extended the comment period by 30 days for the Single Point of Entry (SPOE) strategy for the resolution of Systemically Important Financial Institutions. The SPOE strategy was approved for publication in the Federal Register by the FDIC Board of Directors on December 10, 2013. The extension will allow interested persons additional time to analyze the SPOE Strategy and prepare their comments. All comments must now be received on or before March 20, 2014.
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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 banks and savings associations, 6,891 as of September 30, 2013. 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-10-2014