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Overview
Recent months have borne witness to the rapid failure of several significant U.S. banks. In some cases, these failures happened so quickly that regulators could not wait until the end of the week or end of the day to close the institution. These accelerated collapses have had two meaningful lessons that we will cover. The first is what a bank’s board of directors should be doing as the bank is experiencing increased levels of stress, beginning to fail, and ultimately, failing. The second is what a bank’s customers and other counterparties should be considering to mitigate their risk exposure or respond to crisis at their bank. Key areas to be discussed include:
- Managing the board response to a crisis (6 minutes)
- Governance when failure is a real possibility (10 minutes)
- Special committee formation and activities (7 minutes)
- Navigating dual-hatted directorships (9 minutes)
- Pre-crisis customer relationship management (10 minutes)
- Crisis response, or not overreacting (8 minutes)
- Post-failure claims resolution (10 minutes)
Faculty:
Jarryd E. Anderson
O'Melveny & Myers LLP
Matthew Bisanz
Mayer Brown LLP