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News Release 2023-95
August 29, 2023
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WASHINGTON—Acting Comptroller of the Currency Michael J. Hsu today issued statements at the Federal Deposit Insurance Corporation Board Meeting in support of proposed rulemakings to improve financial stability and the resolvability of large banks.
In his statements, Mr. Hsu discussed his support for proposed rules to establish a long-term debt requirement for large banks with $100 billion or more in assets and to revise the insured depository institution resolution plan rule. Mr. Hsu noted the proposed rulemakings’ relevance to improving separability and ensuring federal regulators have actionable options when dealing with failed bank sales. He further offered his support to a proposal to enhance Board engagement around midsize and large failed bank sales.
His comments are consistent with his remarks in April 2022 on the financial stability risks posed by large banks.
Stephanie Collins (202) 649-6870