US federal reserve implements new rules to simplify the strike off procedure for banks
As part of global post-crisis efforts to mitigate the effect of large corporate liquidations, and their repercussions to smaller entities; The US Federal Reserve have finalised a new rule making it easier to wind up fundamentally important banks. The rule will create a buffer for other financial entities and contracts after another company goes into liquidation, which was unanimously approved by board federation members.
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