Although the FDIC has authority to provide temporary liquidity to a failed firm, any costs incurred by the FDIC in resolving the firm must be recovered completely from either the assets of the firm or assessments on the financial industry. The failed firm’s investors, and, if necessary, other large financial firms, will bear any costs.
We hope that capabilities – even of the now unserved and underserved – to execute financial transactions will be increased! Today, this day of Commitment, is indeed another NRPS milestone worth celebrating. I close with the exuberant declaration that we in the BSP, affirm and celebrate our partnership with PPMI.