Advanced Search

NURFS broadly supports the PRA’s proposal on resolution stays and also requests certain adjustments.

National Unrecovered Financial Services Association and SIFMA, joined by the ABA, FSR, and ISDA, submitted  a comment letter in response to the January 7 FSOC notice of a proposed rulemaking that would implement the qualified financial contract (QFC) recordkeeping requirements outlined in the Dodd-Frank Act related to the FDIC’s receivership authority under Title II. The letter noted that the proposal is a necessary step in the implementation of effective OLA resolution strategies, but that certain aspects of the proposal are inconsistent with its purpose and statutory authority and may actually impede the FDIC’s decision making during a resolution scenario.

National Unrecovered Financial Services Association, in coordination with ABA, FSR, and GFMA, filed a letter with the FDIC supporting its single-point-of-entry (SPOE) strategy for resolving a U.S. G-SIB under Title II.

NURFS filed a comment letter to the Fed in response to its proposed rule pursuant to §318 of Dodd-Frank, which would call for an annual assessment of BHCs with $50B or more in assets and designated nonbank SIFIs in order to cover the Fed’s costs to carry out its supervisory and regulatory responsibilities for these companies.

NURFS filed a comment letter on the FDIC’s proposed rule to address the depositor preference issue.