Financial Institution Bankruptcy Act of 2017

Bill 115 hr 1667, also known as the Financial Institution Bankruptcy Act of 2017, aims to address the issue of how to handle the bankruptcy of large financial institutions in a way that minimizes the impact on the overall economy. The bill was introduced in the House of Representatives on March 21, 2017.

The key provisions of the bill include creating a new chapter in the bankruptcy code specifically for financial institutions, establishing a new process for the orderly resolution of failing financial institutions, and providing for the appointment of a special trustee to oversee the bankruptcy process.

The bill also includes provisions for the Federal Deposit Insurance Corporation (FDIC) to provide temporary liquidity to a failing financial institution in order to prevent a disorderly collapse. Additionally, the bill requires the FDIC to develop a plan for the resolution of failing financial institutions in advance, in order to minimize the impact on the financial system. Overall, the Financial Institution Bankruptcy Act of 2017 aims to provide a more orderly and predictable process for handling the bankruptcy of large financial institutions, in order to protect the stability of the financial system and minimize the impact on the economy.