AFME, SIFMA, other groups call for delay of SIFI resolution rules

06/13/2011 | Bloomberg

AFME, SIFMA and other financial industry groups are asking US regulators to postpone rules that cover the unwinding of systemically important financial institutions. "There are potentially severe business-model and competitive consequences to any financial firm if the Federal Reserve and the Federal Deposit Insurance Corp. were to jointly determine that the company's resolution plan is 'not credible,' " according to a letter from the groups. "Supervisors should not create a system that manages for failure rather than for success."

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