Wind-down plan requirement mandates depositories to ensure transfer mechanisms for accounts and operations upon severe financial or operational failure. Every depository must devise and maintain a wind-down plan per Board guidelines to enable transfer of beneficial owner accounts and operational powers to an alternative institution in events such as erosion of net worth, insolvency, or inability to provide critical depository operations or services.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Wind-down plan requirement mandates depositories to ensure transfer mechanisms for accounts and operations upon severe financial or operational failure.
Every depository must devise and maintain a wind-down plan per Board guidelines to enable transfer of beneficial owner accounts and operational powers to an alternative institution in events such as erosion of net worth, insolvency, or inability to provide critical depository operations or services.
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