Company: BPOPM
Filing Date: 2025-03-03
Form Type: 10-K
Source: 0001193125-25-043848
Chunk: 19

Company: POPULAR, INC.
Filing Date: 2025-03-03
Form: 10-K
Item: Item 1
Chunk 19
---
in
the
event
of
material
financial
distress
or
failure.
In
addition, 
insured depository institutions with total
assets of $50 billion or
more are required to
submit to the FDIC
periodic contingency plans 
for
resolution
in
the
event
of
the
institution’s
failure.
In
June
2024,
the
FDIC
finalized
amendments
to
the
resolution
planning 
requirements for insured depository institutions with
$50 billion or more in
total assets. The amendments require insured
depository 
institutions with
between $50
billion and $100
billion in
assets to submit
informational filings on
a three-year cycle,
with an
interim 
supplement updating key information submitted in the off years. These
amendments became effective October 1, 2024, and BPPR’s 
first submission under the new rule is due by
April 1, 2026. 
On August
29, 2023,
the Federal
Reserve Board,
FDIC and
Office of
the Comptroller
of the
Currency (“OCC”)
issued a 
proposed
rule
that
would
require
bank
holding
companies
and
insured
depository
institutions
with
$100
billion
or
more
in 
consolidated assets (as well as their insured depository institution affiliates) to maintain minimum
amounts of eligible long-term debt 
(generally, debt
that is unsecured, has
a maturity greater than one
year from issuance and satisfies
additional criteria), subject to a 
three-year phase-in
period. The
proposal would
also apply
“clean holding
company” requirements
to Category
II through
IV bank 
holding companies, which
would, among other
things, prohibit
prohibit those holding
companies from entering
into derivatives
and 
certain other financial contracts with third parties. 

  14 
As of December 31, 2024, Popular,
PNA, BPPR and PB’s total assets were
below the thresholds for applicability of these 
rules, except that
BPPR is subject
to the FDIC’s
resolution planning requirements
applicable to insured
depository institutions with 
more than $50 billion but less than $100 billion
in assets