Guidance on the Effective Date of Section 716 of the Dodd-Frank Wall Street Reform and Consumer Protection Act

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The Office of the Comptroller of the Currency ("OCC"), Board of Governors of the Federal Reserve System ("Board"), and the Federal Deposit Insurance Corporation ("FDIC") are issuing this guidance to provide clarity regarding the effective date of section 716 of the Dodd-Frank Wall Street Reform and Consumer Protection Act ("Dodd-Frank Act") \1\ with respect to entities for which each is the prudential regulator. ---------------------------------------------------------------------------