• Treasury Proposes New Resolution Authority for Systemically Significant Financial Companies
  • April 29, 2009 | Authors: Mark S. Bergman; David S. Huntington; Raphael M. Russo; Daniel B. Levine
  • Law Firms: Paul, Weiss, Rifkind, Wharton & Garrison LLP - London Office ; Paul, Weiss, Rifkind, Wharton & Garrison LLP - New York Office
  • On March 25, Treasury Secretary Geithner proposed the "Resolution Authority for Systemically Significant Financial Companies Act of 2009," which would grant the FDIC the authority to provide assistance to and to put into receivership or conservatorship "systemically significant financial companies" that fall outside of the FDIC's existing resolution regime.