Title II establishes additional powers that can be used if bankruptcy is seen to pose "serious and adverse effects on financial stability in the United States," as determined by the Secretary of the Treasury, together with two thirds Federal Reserve Board and two thirds of the FDIC board. Like Title I, it would force shareholders and creditors to bear the losses of the failed financial company, "removing management that was responsible for the financial condition of the company." The procedures also establish certain protections for creditors, such as by setting a requirement for the payout to claimants to ve at least as much as the claimants would have received under a bankruptcy liquidation.