The FDIC’s Orderly Liquidation Authority

Develop and consistently maintain comprehensive Orderly Liquidation Authority policies and procedures for systemically important financial companies, to include:

a. Tier I policies and procedures for framework-level activities.

b. Tier II policies and procedures for operational process-level activities.

c. Tier III policies and procedures for institution-specific planning activities.

d. Other operational program policies and procedures for Orderly Liquidation Authority resolution planning activities.

Apply Tier III policies and procedures to develop and consistently maintain institution-specific resolution planning documents for all nonbank financial companies and financial market utilities designated by the Financial Stability Oversight Council as systemically important.

Ensure the completed Tier I and II policies, procedures, and related guidance documents fully define the applicable Orderly Liquidation Authority roles and responsibilities of each FDIC Division and Office.

Conduct and document a representative survey or other assessment of the Orderly Liquidation Authority-related skill sets existing or needed within the Division of Complex Institution Supervision and Resolution and ensure the Division’s Professional Development Plan incorporates the results.

Regularly conduct and document Orderly Liquidation Authority general and functional training and ensure that training is clearly linked to the key components of the systemic resolution framework and processes.

Develop an FDIC readiness plan for a financial crisis, to include a scenario that involves the resolution of multiple concurrent failures of systemically important financial companies.