On October 10, 2019, the Board of Governors of the Federal Reserve System adopted a final rule revising the resolution planning requirements under section 165(d) of the Dodd-Frank Wall Street Reform and Consumer Protection Act. On October 15, 2019, the Federal Deposit Insurance Corporation followed suit with a substantially identical final rule. The final rule is intended to (i) address amendments to Dodd-Frank made by the Economic Growth, Regulatory Relief, and Consumer Protection Act and (ii) incorporate lessons learned by the Agencies over the course of multiple Resolution Plan review cycles since the original resolution planning rule first became effective in 2011. The final rule generally adopts, with a handful of modifications and clarifications, the proposal published by the Agencies in April of 2019. Consistent with the proposed rule, the final rule divides the covered companies subject to the resolution plan filing requirement into three resolution plan filing groups, based on the covered company’s categorization under the broader tailoring framework for enhanced prudential standards. The proposed rule includes modifications and clarifications to the required timeframes for certain covered company requests and Agency actions. Thematically, the fixed timeframes adopted by the final rule for key procedural steps within a resolution planning cycle reflect an acknowledgment by the Agencies that the plan preparation process functions more effectively when covered companies are able to obtain full visibility into the required scope and content for a given submission at least one year prior to its due date.