Endnotes

Nita Kohli

CHAPTER 1

1. Definition from the Federal Financial Institutions Examination Council (FFIEC).

2. Definition from OCC, FRB and FDIC (2020).

3. Source: Netscout.

CHAPTER 6

1. Including BCBS (2021) and Federal Reserve Board (2024).

CHAPTER 10

1. Title I established the Financial Stability Oversight Council (FSOC), which could designate financial firms with at least US$50 billion in assets as systemically important financial institutions (SIFIs). 

To summarise:

SIFIs were to prepare resolution plans to demonstrate how the company would be resolved in a rapid and orderly manner under the Bankruptcy Code in the event of the company’s material financial distress or failure;

SIFIs were also subject to the Dodd-Frank Act stress tests (DFAST);

Title II, the Orderly Liquidation provision of the Dodd-Frank Act, provided a process to quickly and efficiently liquidate a large, complex financial company that is close to failing; and

the FDIC was given certain powers as receiver, and a three-to-five-year timeframe in which to finish the liquidation process and authority.

2. In 2017, the Dodd-Frank Act was partially repealed with the Financial CHOICE Act, which replaced the US$50 billion threshold with a case-by