ABI’s Too Big to Fail: Ten Years Later

Loading Map....

Apr 19, 2018
10:00 am-7:30 pm

Marriott Marquis


ABI Too Big to Fail

Before the Spring Meeting Reception, join ABI for this special symposium as they look back on the global financial crisis and the ways the finance industry has or hasn’t changed in the last decade.

On September 15, 2008, Lehman Brothers filed the largest bankruptcy in U.S. history. Several major financial market participants already had been forced to sell their businesses or shutter their operations, and, after Lehman’s failure, others were bailed out by the U.S. government.

The global financial crisis of 2007-08 raised significant concerns about systemic risks arising from the failure of large financial market participants, and exposed a level of market risk and interconnectedness that previously had not been comprehended. Congress responded to this “Too Big to Fail” problem with the Dodd-Frank Wall Street Reform and Consumer Protection Act, which among other things included a new Orderly Liquidation Authority (OLA) for resolving large financial market participants, a “resolution planning” requirement for systemically important financial firms, mandatory clearing for many classes of derivatives, and new powers for financial regulators designed to improve financial market stability.

This and other topics will be covered, including:

  • Resolving systemically important financial institution (SIFIs) using the single-point-of-entry resolution strategy, either in OLA proceedings or under existing chapter 11 of the Bankruptcy
  • Code, and proposed amendments to the Bankruptcy Code designed to facilitate single-point-of-entry resolution, including discussion of the strengths and weaknesses of each approach
  • Preserving the value of qualified financial contracts during the resolution process, recent U.S. rules regarding permitted default rights, the ISDA Resolution Stay Protocols, and implications for counterparties
  • Issues with existing safe-harbored contract-termination practices and the calculation of damages
  • Multiple-point-of-entry proceedings, non-SIFI financial firm resolution, and clearing organization resolution
  • International cooperation and cross-border issues impacting the resolution of SIFIs and GSIBs
  • The role of clearing organizations, repo counterparties and settlement banks in the resolution proc

Early Bird Registration ends April 6, 2018.

Special rates for Spring Meeting Attendees will be available.

4.5 hours of CPE credits will be available.

For more information, including a program schedule and how to register, visit the ABI event page.