Along these lines, I would hope that Congress will move forward with a set of changes to the bankruptcy code to facilitate the resolution of large financial firms and, thereby, limit the number of instances in which the government would need to use the Title II procedures of Dodd-Frank.
In the very short term, we will also finalize our rule requiring the most systemically important firms to hold a sizeable amount of long-term debt, which would be available to the  16  For a discussion of the relationship between capital and liquidity standards, see Daniel K. Tarullo (2013), “Evaluating Progress in Regulatory Reforms to Promote Financial Stability,” speech delivered at the Peterson Institute for International Economics, Washington, DC, May 3, www.federalreserve.gov/newsevents/speech/tarullo20130503a.htm.