The Federal Deposit Insurance Corporation’s (FDIC) Systemic Resolution Advisory Committee (SRAC) is preparing for a pivotal meeting next week, set to address critical policies surrounding the resolution of systemically important financial institutions. Scheduled for Wednesday, November 9, at 9:00 am ET, this meeting will bring together experts from various fields to discuss strategies for managing the orderly resolution of large, complex financial institutions whose failure could threaten U.S. financial stability.
The SRAC’s mission is to advise the FDIC on a wide range of policy issues related to the resolution process, which is governed by the Dodd-Frank Act of 2010. The committee plays a crucial role in ensuring that the FDIC has the necessary tools and authority to manage the orderly resolution of these institutions effectively.
Joining the SRAC for this important meeting are two new members: Tim P. Clark, Distinguished Senior Banking Adviser at Better Markets, and Frank La Salla, President and CEO of DTCC. These additions bring additional expertise to the committee, which now comprises 17 members with diverse backgrounds in managing complex firms, administering bankruptcies, and working in legal, financial, regulatory, and academic fields.
Current SRAC members include prominent figures such as former FDIC Chairman Sheila Bair, former Federal Reserve Chairman Ben Bernanke, and former SEC Chairman Jay Clayton. The full list of current members is available on the committee’s webpage.
The FDIC created the SRAC in 2011 to serve in an advisory capacity, providing expertise and recommendations without having final decision-making authority or access to non-public, confidential information. Information about the committee’s work and its members can be found on their webpage.
This virtual meeting is open to the public and will be available live via webcast, ensuring that interested stakeholders can stay informed about the ongoing efforts to maintain financial stability in the United States.
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Key Facts
- Agency: FDIC
- Category: Fraud & Financial Crimes|Public Corruption
- Source: Official Source ↗
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