FEDERAL DEPOSIT INSURANCE CORPORATION

CHARTER OF THE 

SYSTEMIC RESOLUTION ADVISORY COMMITTEE

1. Committee’s Official Designation (Title): Federal Deposit Insurance Corporation (FDIC)

Systemic Resolution Advisory Committee (the Committee).

2. Authority: Discretionary committee established under agency authority and in accordance

with the provisions of the Federal Advisory Committee Act (FACA), as amended, 5 U.S.C. §

1001 et seq.

3. Objectives and Scope of Activities: The Committee will provide advice and

recommendations on a broad range of issues regarding the resolution of systemically important

financial companies (covered companies) pursuant to the Dodd-Frank Wall Street Reform and

Consumer Protection Act, Pub. L. 111-203 (July 21, 2010), 12 U.S.C. § 5301 et seq. Issues to be

considered by the Committee include: the effects on financial stability and economic conditions

of a covered company’s failure and how they arise; the effects on markets and stakeholders of

the activities of a covered company; market understanding of the authorities available to the

FDIC to facilitate an orderly resolution of a covered company, and the application of such

authorities to nonbank financial entities; international coordination of planning and preparation

for the resolution of internationally active covered companies; and the harmonization of

resolution regimes across international boundaries.

4. Description of Duties: The Committee will provide advice and recommendations only. It

will have no formal decision-making role, will have no access to confidential supervisory or

other confidential information, and will not have access to or discuss any non-public information

regarding specific financial companies.

5. Agency or Official to Whom the Committee Reports: The Committee reports to the

Chairman of the Board of Directors of the FDIC (Chairman).

6. Support: The FDIC will establish such operating procedures as are required to support the

Committee, consistent with the FACA, as amended. The FDIC will provide whatever support is

required for the Committee’s activities, to the extent permitted by law and subject to the

availability of resources.

7. Estimated Annual Operating Costs and Staff Years: The annual operating costs

associated with supporting the Committee’s functions are estimated to be $375,000 per year,

including staff time. It is estimated that one staff-year per year of FDIC personnel time will be

required to support the Committee on a continuing basis. Committee members will be

reimbursed for expenses for travel, per diem, and other miscellaneous expenses incurred in the

performance of their duties for the Committee, subject to FDIC approval.

8. Designated Federal Officer: A full-time or permanent part-time employee, appointed in

accordance with agency procedures and designated as such by the Chairman, will serve as the
Designated Federal Officer (DFO). The FDIC Chairman may appoint an alternate DFO 

(ADFO). The DFO or ADFO will approve or call all Committee and subcommittee meetings, 

prepare and approve all meeting agendas, attend all Committee and subcommittee meetings, 

adjourn any meeting when the DFO or ADFO determines adjournment to be in the public 

interest, and chair meetings when directed to do so by the FDIC Chairman. 

9. Estimated Number and Frequency of Meetings: The Committee shall meet at such

intervals as are necessary to carry out its functions. It is anticipated that the Committee will meet

at least once per year.

10. Duration: The Committee will exist for 2 years from the date of the Charter, unless earlier

renewed.

11. Termination: The Committee will terminate 2 years from the date of charter filing, unless

earlier renewed or terminated.

12. Membership and Designation: To ensure relevant expertise on the Committee, members

of the Committee should include: financial market participants and professionals with relevant

experience in managing large, complex firms; investors; bankruptcy professionals;

representatives from the audit, accounting, credit rating, and legal professions; and other relevant

experts. Members will serve for a term of up to 3 years, which may be renewed, and the number

of members of the Committee will not exceed 20. The Committee Chairperson, to the extent one

is desired by the FDIC, will be selected from among the members of the Committee by the

Chairman. No Special Government Employees are expected to be on the Committee; the

Committee will be comprised of representatives of the above-described groups. Committee

members will not receive compensation for their services.

13. Subcommittees: The Chairman is authorized to create any subcommittees that may be

necessary to fulfill the Committee’s mission. Any subcommittee created will report back to the

parent Committee and will not provide advice or work products directly to the FDIC.

14. Recordkeeping: The records of the Committee will be handled in accordance with the

FDIC’s records disposition schedule. These records will be available for public inspection and

copying, subject to the Freedom of Information Act, 5 U.S.C. § 552.

15. Filing Date: This charter has been filed with the Chairman of the FDIC, the Senate

Committee on Banking, Housing and Urban Affairs, the House Committee on Financial

Services, the General Services Administration’s Committee Management Secretariat, and

furnished to the Library of Congress on April 10, 2023.

______________ 04-10-23 _ ______________________________ /s

Date Martin J. Gruenberg 

Chairman