The FDIC last week released its long awaited proposal on Single Point of Entry (“SPOE”) under Dodd-Frank’s Title II resolution framework. Although the proposal contains little new information, its value may be in its utility as a roadmap of outstanding issues, especially because a significant portion of it requests comment for public input.
Since its release, two FDIC board members have highlighted areas that need to be resolved, and key issues were discussed at a recent meeting of the FDIC’s Systemic Resolution Advisory Committee. While the FDIC deserves credit for making progress, SPOE as the way forward on resolving G-SIFIs remains far from the goal line.
This Financial Services Regulatory Brief updates our previous brief on SPOE with our latest view of the outstanding issues.