The FDIC’s Orderly Liquidation Authority

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Date Issued

Thursday, September 28, 2023

Submitting OIG

Federal Deposit Insurance Corporation OIG

Other Participating OIGs

Federal Deposit Insurance Corporation OIG

Agencies Reviewed/Investigated

Federal Deposit Insurance Corporation

Report Number

EVAL-23-004

Report Type

Inspection / Evaluation

Agency Wide

Yes

Number of Recommendations

Questioned Costs

Funds for Better Use

Open Recommendations

This report has 4 open recommendations.

Recommendation Number	Significant Recommendation	Recommended Questioned Costs	Recommended Funds for Better Use
2	No	$0	$0
Develop and consistently maintain comprehensive Orderly Liquidation Authority policies and procedures for systemically important financial companies, to include:a. Tier I policies and procedures for framework-level activities.b. Tier II policies and procedures for operational process-level activities.c. Tier III policies and procedures for institution-specific planning activities.d. Other operational program policies and procedures for Orderly Liquidation Authority resolution planning activities.
3	No	$0	$0
Develop and consistently maintain comprehensive Orderly Liquidation Authority policies and procedures for systemically important financial companies, to include:a. Tier I policies and procedures for framework-level activities.b. Tier II policies and procedures for operational process-level activities.c. Tier III policies and procedures for institution-specific planning activities.d. Other operational program policies and procedures for Orderly Liquidation Authority resolution planning activities.
9	No	$0	$0
Conduct and document a representative survey or other assessment of the Orderly Liquidation Authority-related skill sets existing or needed within the Division of Complex Institution Supervision and Resolution and ensure the Division’s Professional Development Plan incorporates the results.
11	No	$0	$0
Regularly conduct and document Orderly Liquidation Authority general and functional training and ensure that training is clearly linked to the key components of the systemic resolution framework and processes.