Research Article
Open Access
The Resolution of Distressed Financial Conglomerates
Howell E. Jackson, Stephanie Massman
RSF: The Russell Sage Foundation Journal of the Social Sciences January 2017, 3 (1) 48-72; DOI: https://doi.org/10.7758/RSF.2017.3.1.03
Howell E. Jackson
aJames S. Reid, Jr., Professor of Law at Harvard University
Stephanie Massman
bJ.D. from Harvard Law School in 2015

REFERENCES
- ↵Baer, Gregory. 2014. “Regulation and Resolution: Towards a Unified Theory.” Banking Perspectives 1 2014: 12–21. New York: The Clearing House.
- ↵Bank of America Corporation. 2016. Letter from Board of Governors of the Federal Reserve System and Federal Deposit Insurance Corporation in response to 2015 Resolution Plan Submission Letter (April 12). Available at: http://www.documentcloud.org/documents/2800591-Bank-of-America-Letter-20160413.html; accessed July 11, 2016.
- The Bank of New York Mellon Corporation. 2016. Letter from Board of Governors of the Federal Reserve System and Federal Deposit Insurance Corporation in response to 2015 Resolution Plan Submission Letter (April 12). Available at: http://www.documentcloud.org/documents/2800590-Bank-of-New-York-Mellon-Letter-20160413.html; accessed July 11, 2016.
- ↵Barr, Michael S., Howell E. Jackson, and Margaret E. Tahyar. 2016. Financial Regulation: Law and Policy. St. Paul: Foundation Press.
- ↵Board of Governors of the Federal Reserve System and Federal Deposit Insurance Corporation. 2016. “Regulation Plan Assessment Framework and Firm Determinations.” Washington, D.C.: Board of Governors of the Federal Reserve System and Federal Deposit Insurance Corporation.
- ↵Bovenzi, John F., Randall D. Guynn, and Thomas H. Jackson. 2013. “Too Big to Fail: The Path to a Solution.” A Report of the Failure Resolution Task Force of the Financial Regulatory Reform Initiative of the Bipartisan Policy Center. Washington, D.C.: Bipartisan Policy Center.
- ↵Christiansen, Brian D., Van C. Durrer, Sven G. Mickisch, and William S. Rubenstein. 2014. “Chapter 11 Strategies Increasingly Appeal to Banks in Need of Recapitalization.” Skadden Insights. New York: Skadden, Arps, Slate, Meagher & Flom LLP.
- ↵Citigroup Inc. 2016. Letter from Board of Governors of the Federal Reserve System and Federal Deposit Insurance Corporation in response to 2015 Resolution Plan Submission Letter (April 12). Available at: http://www.documentcloud.org/documents/2800589-Citi-Letter-20160413.html; accessed July 11, 2016.
- ↵Davis Polk & Wardwell LLP. 2016. “Federal Reserve’s Proposed Rule on QFCs with U.S. G-SIBs and the U.S. Operations of Foreign G-SIBs.” Visual Memorandum. New York: Davis Polk & Wardwell LLP.
- ↵Federal Deposit Insurance Corporation. 2011. “The Orderly Liquidation of Lehman Brothers Holdings Inc. under the Dodd-Frank Act.” FDIC Quarterly 5(2): 31–49. Washington, D.C.: Federal Deposit Insurance Corporation.
- ↵Financial Stability Board. 2014. “Adequacy of Loss-Absorbing Capacity of Systemically Important Banks in Resolution.” Basel: Financial Stability Board.
- ↵
- Geen, David,
- Seth Grosshandler, ,
- Katherine Hughes, ,
- Igor Kleyman, ,
- Knox L. McIlwain, ,
- Samantha Riley, , and
- M. Benjamin Snodgrass
- ↵The Goldman Sachs Group Inc. 2016. Letter from Board of Governors of the Federal Reserve System and Federal Deposit Insurance Corporation in response to 2015 Resolution Plan Submission Letter (April 12). Available at: http://www.documentcloud.org/documents/2800588-Goldman-Sachs-Letter-20160413.html; accessed July 11, 2016.
- ↵Gordon, Jeffrey N., and Wolf-Georg Ringe. 2015. “Bank Resolution in Europe: The Unfinished Agenda of Structural Reform.” ECGI Law Working Paper No. 282/2015. Brussels: European Corporate Governance Institute.
- ↵
- Guynn, Randall D
- ↵Guynn, Randall D. 2014. “Framing the TBTF Problem: The Path to a Solution.” In Across the Great Divide: New Perspectives on the Financial Crisis, edited by Martin Neil Baily and John B. Taylor. Stanford, Calif.: Hoover Institution.
- ↵Huertus, Thomas C. 2015. “A Resolvable Bank. In Building on Bankruptcy: A Revised Chapter 14 Proposal for the Recapitalization, Reorganization, or Liquidation of Large Financial Institutions.” In Making Failure Feasible, edited by Kenneth E. Scott, Thomas H. Jackson and John B. Taylor. Stanford, Calif.: Hoover Institution.
- ↵
- ↵Jackson, Thomas H. 2015. “Building on Bankruptcy: A Revised Chapter 14 Proposal for the Recapitalization, Reorganization, or Liquidation of Large Financial Institutions.” In Making Failure Feasible, edited by Kenneth E. Scott, Thomas H. Jackson and John B. Taylor. Stanford, Calif.: Hoover Institution.
- ↵Jarque, Arantxa, and David A. Price. 2015. “Living Wills: A Tool for Curbing Too Big to Fail.” Federal Reserve Bank of Richmond Economic Quarterly 101(1): 77–94. Richmond, Va.: Federal Reserve Bank of Richmond.
- ↵JPMorgan Chase & Co. 2016. Letter from Board of Governors of the Federal Reserve System and Federal Deposit Insurance Corporation in response to 2015 Resolution Plan Submission Letter (April 12). Available at: http://www.documentcloud.org/documents/2800587-Jpmorgan-Chase-Letter-20160413.html; accessed July 11, 2016.
- ↵Kupiec, Paul H. 2015. “Will TLAC Regulations Fix the G-SIB Too-Big-To-Fail Problem?” AEI Economic Working Paper 2015-08. Washington, D.C.: American Enterprise Institute.
- ↵Kupiec, Paul H., and Peter J. Wallison. 2014. “Can the ‘Single Point of Entry’ Strategy Be Used to Recapitalize a Failing Bank?” AEI Economic Working Paper 2014-08. Washington, D.C.: American Enterprise Institute.
- ↵
- Lee, Paul L
- ↵
- Lee, Paul L
- ↵
- Lee, Paul L
- ↵
- Massman, Stephanie P
- ↵
- Merrill, Thomas W., and
- Margaret L. Merrill
- ↵Morgan Stanley. 2016. Letter from Board of Governors of the Federal Reserve System and Federal Deposit Insurance Corporation in response to 2015 Resolution Plan Submission Letter (April 12). Available at: http://www.documentcloud.org/documents/2800586-Morgan-Stanley-Letter-20160413.html; accessed July 11, 2016.
- ↵PwC. 2015. “Resolution: Single Point of Entry Strategy Ascends.” Regulatory Brief. Chicago: PwC Financial Services.
- ↵
- Roe, Mark J., and
- Stephen D. Adams
- ↵Sidley Austin LLP. 2015. “Sidley Update: New ISDA Resolution Stay Protocols: Challenges for Buy-Side and Sell-Side Firms Alike.” New York: Sidley Austin LLP.
- ↵Skeel, David A. 2014. “Single Point of Entry and the Bankruptcy Alternative.” In Across the Great Divide: New Perspectives on the Financial Crisis, edited by Martin Neil Baily and John B. Taylor. Stanford, Calif.: Hoover Institution.
- ↵Skeel, David A. 2015. “Financing Systemically Important Financial Institutions.” In Making Failure Feasible, edited by Kenneth E. Scott, Thomas H. Jackson, and John B. Taylor. Stanford, Calif.: Hoover Institution.
- ↵Skeel, David A. 2016. “The New Synthesis of Bank Regulation and Bankruptcy in the Dodd-Frank Era.” ECGI Law Working Paper No. 308-2016. Brussels: European Corporate Governance Institute.
- ↵State Street Corporation. 2016. Letter from Board of Governors of the Federal Reserve System and Federal Deposit Insurance Corporation in response to 2015 Resolution Plan Submission Letter (April 12). Available at: http://www.documentcloud.org/documents/2800585-State-Street-Corporation-Letter-20160413.html; accessed July 11, 2016.
- ↵Tucker, Paul. 2014. “Regulatory Reform, Stability and Central Banking.” Hutchins Center on Fiscal and Monetary Policy at Brookings Working Paper No. 1. Washington, D.C.: Brookings Institution.
- Wells Fargo & Company. 2016. Letter from Board of Governors of the Federal Reserve System and Federal Deposit Insurance Corporation in response to 2015 Resolution Plan Submission Letter (April 12). Available at: http://www.documentcloud.org/documents/2800584-Wells-Fargo-Letter-20160413.html; accessed July 11, 2016.
In this issue
The Resolution of Distressed Financial Conglomerates
Howell E. Jackson, Stephanie Massman
RSF: The Russell Sage Foundation Journal of the Social Sciences Jan 2017, 3 (1) 48-72; DOI: 10.7758/RSF.2017.3.1.03
Jump to section
- Article
- Abstract
- DESIGN CHALLENGES OF IMPLEMENTING SPOE
- MULTIPLICITY OF RESOLUTION ALTERNATIVES AND COMPLEXITY OF CHOICE ARCHITECTURE
- LIMITS OF THE EXISTING BANKRUPTCY CODE AND SOME PARTIAL SOLUTIONS (IN THE ABSENCE OF STATUTORY REFORM)
- CONCLUDING THOUGHTS: PLANNING FOR TWO (OR MORE) FUTURE STATES OF THE WORLD
- Acknowledgments
- FOOTNOTES
- REFERENCES
- Figures & Data
- Info & Metrics
- References
Related Articles
- No related articles found.
Cited By...
- No citing articles found.