BNY Mellon response to Fed and FDIC

BNY Mellon has released a statement in response to the feedback it received from the Federal Deposit Insurance Corporation and the Federal Reserve on its 2015 resolution plan.

BNY Mellon says it acknowledges the regulators’ feedback and is committed to addressing the issues raised within the required timeframe.  As noted in the regulators’ letter, it continues, BNY Mellon has taken important steps to enhance the firm’s resolvability and facilitate its orderly resolution in bankruptcy.  “We remain fully focused on meeting the regulatory expectations to strengthen our plan as part of this iterative process,” it says.