Title II of the Dodd-Frank Wall Street Reform and Consumer Protection Act seeks to avoid future government bailouts of “too big to fail” financial institutions. Title II creates the Orderly Liquidation Authority (OLA), a liquidation framework for the resolution of certain nonbank financial companies by the FDIC, as receiver. While it is expected that OLA will be used in very limited circumstances with the US Bankruptcy Code remaining the primary mechanism for resolving nonbank financial companies, Title II has already presented issuers and investors in finance transactions (including structured finance transactions) with several novel issues.

Mayer Brown partners Brad Keck, Stuart Rozen and Jeffrey Taft will discuss the recent developments regarding OLA and their impact on finance transactions in our next 30-minute teleconference.

These issues will include:

  • The FDIC’s Interim Final Rule implementing certain provisions of OLA and request for comment on additional provisions
  • The FDIC advisory letter regarding the avoidable transfer provisions of OLA and its impact on secured finance transactions
  • The FDIC advisory letter regarding its repudiation powers under OLA and future rulemaking

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Mayer Brown's Global Financial Markets Initiative helps clients deal with the legal and business challenges resulting from the ongoing turbulence in worldwide financial markets. By mobilizing the firm's global resources from multiple practices and offices, the Initiative provides clients with knowledgeable and timely counsel on a broad spectrum of their legal needs.