12/15/16 - Art Angulo Discusses the Fed’s Final TLAC Rule
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12/15/16 - Art Angulo Discusses the Fed’s Final TLAC Rule

Promontory Managing Director Art Angulo spoke to American Banker about the Federal Reserve’s finalization of the “total loss-absorbing capacity” or TLAC rule, which is designed to recapitalize a large bank that fails.

“It was a smart move to allow the grandfathering,” Angulo said. “This is a large bank issue, and one thing that Republicans and Democrats generally seem to agree on is that it's okay to come down hard on big banks. There are bigger fish to fry, and the banking industry's political capital would be better spent on other issues.”