The MOA also features collaboration in the exchange of studies, research, and information on current, new, and emerging trends and typologies in money laundering and terrorism financing; and to undertake capacity-building measures to efficiently address money laundering, terrorism financing, and unlawful activities in the country. The AMLC very much looks forward to a continuing alliance with PAGCOR. Thank you and good morning.
1 While the Federal Deposit Insurance Act creates a special resolution framework for failed banks, a failed U.S. bank holding company – that is, a corporate entity that controls one or more banks – would generally be resolved under the same provisions of the U.S. Bankruptcy Code as would apply to other corporate debtors, such as industrial firms, in a proceeding overseen by a federal judge.