United States Code (Last Updated: May 24, 2014) |
Title 12. BANKS AND BANKING |
Chapter 53. WALL STREET REFORM AND CONSUMER PROTECTION |
SubChapter II. ORDERLY LIQUIDATION AUTHORITY |
§ 5389. Rulemaking; non-conflicting law
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The Corporation shall, in consultation with the Council, prescribe such rules or regulations as the Corporation considers necessary or appropriate to implement this subchapter, including rules and regulations with respect to the rights, interests, and priorities of creditors, counterparties, security entitlement holders, or other persons with respect to any covered financial company or any assets or other property of or held by such covered financial company, and address the potential for conflicts of interest between or among individual receiverships established under this subchapter or under the Federal Deposit Insurance Act [12 U.S.C. 1811 et seq.]. To the extent possible, the Corporation shall seek to harmonize applicable rules and regulations promulgated under this section with the insolvency laws that would otherwise apply to a covered financial company.
References In Text
This subchapter, referred to in text, was in the original “this title”, meaning title II of Pub. L. 111–203,
The Federal Deposit Insurance Act, referred to in text, is act Sept. 21, 1950, ch. 967, § 2, 64 Stat. 873, which is classified generally to chapter 16 (§ 1811 et seq.) of this title. For complete classification of this Act to the Code, see Short Title note set out under section 1811 of this title and Tables.