Bankruptcy: Agencies Continue Rulemakings for Clarifying Specific Provisions of Orderly Liquidation Authority

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By Alicia Puente Cackley (au)
Year: 2012
Pages: 55
Binding Paperback
ISBN 978-1-4578-3535-3

Product Code: 1457835355

Description

The Dodd-Frank Act created the Orderly Liquidation Authority (OLA) for resolving failed, systematically important financial companies. Since the act was passed in 2010, regulators have been developing regulations to implement this authority and avoid disorderly resolutions that create substantial losses for the financial system. In July 2011, GAO issued the first of its statutorily mandated reports on the effectiveness of the Bankruptcy Code for resolving or liquidating complex, internationally active financial companies. Among the topics examined in this second report, GAO reviewed: (1) federal rules or regulations relating to OLA and the resolution of financial institutions, including living wills; and (2) status of efforts to improve coordination on international resolutions, data collection efforts, and the outcomes of financial institutions that were in the bankruptcy process. Tables and figures. This is a print on demand report.

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