These plans are also useful supervisory tools that have helped the Federal Reserve and the firms focus on opportunities to simplify corporate structures and improve management systems in ways that will help the firms be more resilient and efficient, as well as easier to resolve.
Earlier this year, the Federal Reserve issued supervisory guidance relating to operational resilience, including supervisory expectations regarding collateral management; payment, clearing, and settlement activities; liquidity and funding; management information systems; and shared and outsourced services.