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Overview
In December of 2016, the Federal Reserve Board adopted final rules relating to a long-term debt, total loss absorbing capacity (TLAC), and clean holding company requirement. The rules apply to U.S. G-SIBs and for foreign banks that are G-SIBs and subject to an intermediate holding company requirement. Please join Oliver I. Ireland of Morrison & Foerster LLP for an overview.
Topics will include:
- The Fed’s final rules;
- Principal differences between the Feds rules and the FSB approach;
- Considerations for foreign banks subject to the rules;
- An assessment of the U.S. internal TLAC requirement compared to the IHC requirement proposed by the European Commission; and
- Effects on other financial products.