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Resolution and Recovery Planning

  • The Art of the Possible: Prospects for Financial Services Legislation in the 114th Congress

    Samuel Woodall III

    With a Republican-controlled Congress and a Democratic president, the conventional wisdom is that the next two years will portend an extended and partisan political stalemate that will stymie any prospect for enactment of meaningful financial services legislation. However, real opportunities for the advancement of financial services legislation are in play. In fact, if recent history is any indicator, Congressional Republicans will have the chance to do something that has been off limits for the last several years: amend Dodd-Frank.

  • Margin for Error: Balancing the Risks and Benefits of Uncleared Swaps

    Donna Parisi, and Barnabas W B Reynolds

    Margin requirements for uncleared derivatives are intended to reduce counterparty credit risk, limit contagion, and incentivize the central clearing of derivatives trades. However, they risk fueling potentially negative outcomes such as straining market liquidity and subsequently driving activity to the shadows. In addition, the ambiguous scope of their extraterritorial application threatens to introduce new forms of uncertainty and legal risk into cross-border transactions.
  • For the Record

    TCH Association President Paul Saltzman calls for a reconceptualization of banking resilience and discusses key considerations for macroprudential policy with this in mind.
  • Section 165 Revisited: Rethinking Enhanced Prudential Regulations

    Andrew Olmem

    An exploration of the legislative history of §165 of Dodd-Frank offers insight into the original aims of enhanced prudential regulation. Can the recalibration of enhanced prudential regulations not only result in better regulation but also more accurately reflect the original purposes of §165?
  • Resolving Financial Institutions: A Proposed Bankruptcy Code Alternative

    Thomas Jackson

    Dodd-Frank gives regulators the power to resolve a failing bank using either the Bankruptcy Code or Orderly Liquidation Authority. Tension between these two approaches is complicating efforts to end “too big to fail”. Amending the Bankruptcy Code with key aspects of Title II could bridge this divide.