Federal Deposit Insurance Corp. Chairman Sheila Bair said Tuesday the agency would soon publish an interim rule on its new resolution authority over systemically important banking companies and certain nonbanks.

At an agency forum on implementing the new resolution authority, Bair acknowledged market uncertainty surrounding how the FDIC plans to use its new powers, and said the interim rule will provide clarity on how the agency will treat creditors.

"We would very much like to get an interim role in place in the fairly near future that would provide the broad framework for our resolution authority would work," Bair said. "We think it's important to clarify for the market how these rules would work."

Bair noted concern over the regulatory reform law, which was signed into law on July 21, which allows the FDCI some flexibility to differentiate between creditors during a resolution, but said the agency has long had that power with bank receiverships. She emphasized that the FDIC will largely follow the same priority that bankruptcy court does.

"We want to make it very clear that the claims priority we would be following will be pretty much the same thing that is followed in bankruptcy," she said. "This kind of authority... would only be used where it would maximize recovery."

The forum brought together executives from the largest banks and regulators from the Treasury Department, FDIC, Federal Reserve Board, Securities and Exchange Commission, Office of Comptroller of the Currency, and Commodities Futures Trading Commission.

Bair said the FDIC will have joint rule making authority with the Fed and may have another roundtable discussion on systemic entities filing resolution plans with the FDIC.

At the forum, regulators and bankers discussed the FDIC's backup authority against systemic companies, information collection, bridge banks, and living wills.

Bankers said they have already started developing living wills and assigning employees to oversee their resolution plans. They also suggested the FDIC identify what assets could be included in a bridge bank. Bankers stressed the need for speed and transparency from the FDIC on the process.

"The three days you have to determine for the bridge is going to seem like an eternity for the market and not enough time for you," said one banker.