As many of you know, in the United States, the Federal Deposit Insurance Corporation is developing a preferred approach to resolution for such rare cases: the singlepoint-of-entry (SPOE) approach. This approach may be gaining some traction internationally. In my view, SPOE can be a classic “simplifier”, making theoretically possible something that seemed impossibly complex.
For additional information on the new MDI provisions, see Lael Brainard (2020), “Modernizing and Strengthening CRA Regulations: A Conversation with Minority Depository Institutions,” speech delivered to the National Bankers Association (via webcast), Washington, October 15, https://www.federalreserve.gov/newsevents/speech/brainard20201015a.htm. 8