FDIC will hold first roundtable on financial reform law

The Federal Deposit Insurance Corporation will hold its first roundtable discussion on Tuesday to discuss its new resolution authority, provided under the recently enacted financial regulatory reform law for the largest financial firms. 

The FDIC will meet with external groups such government officials, industry executives, academics and investors to discuss the framework of the resolution process, the treatment of creditors and the creation of living wills, according to a Monday statement. 

The roundtables are "part of the FDIC's overall effort to bring transparency into the process," according to the statement. 

Earlier in the month, the FDIC announced that it was seeking input from a broad audience by encouraging the public to submit views by e-mail on how the FDIC should implement the new law. 

In July, the FDIC announced it would hold a series of roundtables to discuss implementation issues. 

The agency also has said it will provide biweekly updates with names and affiliations of private-sector individuals who meet with senior FDIC officials to discuss parts of the Dodd-Frank financial reform transition process that are subject to independent or joint rulemaking. 

The FDIC also will webcast all board meetings, including those dealing with regulatory reform. 

"The FDIC's open door policy will make it easier for the public to give input and track the rulemaking process as the agency implements the new law," a statement said. "This will provide the American people with the ability to see in a clear and straightforward way how financial services reform will be implemented."

The FDIC will provide a webcast of Tuesday's meeting.