On June 20, 2024, the Federal Deposit Insurance Corporation (the “FDIC”) released a final rule (the “Final Rule”) that significantly modifies the FDIC’s existing insured depository institution (“IDI”) resolution planning rule issued in 2012. The Final Rule updates and, in some cases, expands requirements for IDIs with at least $50 billion in total assets to develop and submit detailed plans to the FDIC surrounding their timely and orderly resolution in the event of receivership. The Final Rule is effective October 1, 2024.