▁assets ▁of ▁$ 5 0 ▁billion ▁or ▁more ▁and ▁non bank ▁financial ▁companies ▁designated ▁by ▁the ▁Fin an cial ▁St ability ▁O vers ight ▁Council ▁for ▁super vision ▁by ▁the ▁Federal ▁Reserve ▁submit ▁resolution ▁plans ▁ann ually ▁to ▁the ▁Federal ▁Reserve ▁( FR B ) ▁and ▁the ▁Federal ▁De pos it ▁In sur ance ▁Corporation ▁( FD IC ). ▁Each ▁plan , ▁commonly ▁known ▁as ▁a ▁living ▁will , ▁must ▁describe ▁the ▁company ' s ▁strategy ▁for ▁rapid ▁and ▁order ly ▁resolution ▁under ▁the ▁Bank rupt cy ▁Code ▁in ▁the ▁event ▁of ▁material ▁financial ▁dist ress ▁or ▁failure ▁of ▁the ▁company . ▁ ▁Starting ▁in ▁ 2 0 1 4 ▁Category ▁ 2 ▁fir ms ▁will ▁be ▁required ▁to ▁submit ▁resolution ▁plans ▁while ▁category ▁ 1 ▁fir ms ▁will ▁submit ▁their ▁ 3 rd ▁resolution ▁plans . ▁ ▁The ▁resolution ▁plan ▁requirement ▁under ▁the ▁D odd ▁Frank ▁Act ▁in ▁Section ▁ 1 6 5 ( d ), ▁is ▁in ▁addition ▁to ▁the ▁F D IC ' s ▁requirement ▁of ▁a ▁separate ▁covered ▁ins ured ▁de pository ▁institution ▁(" C ID I ") ▁plan ▁for ▁C ID Is ▁of ▁large ▁bank ▁holding ▁companies . ▁The ▁F D IC ▁requires ▁a ▁separate ▁C ID I ▁resolution ▁plan ▁for ▁US ▁ins ured ▁depos itories ▁with ▁assets ▁of ▁$ 5 0 ▁billion ▁or ▁more . ▁Most ▁of ▁the ▁largest , ▁most ▁complex ▁B HC s ▁are ▁subject ▁to ▁both ▁rules , ▁requiring ▁them ▁to ▁file ▁a ▁ 1 6 5 ( d ) ▁resolution ▁plan ▁for ▁the