Big Banks' Living Will Summaries To Be Released Tuesday

Law360, New York (June 29, 2012, 1:58 PM EDT) -- Outlines of company-written plans for winding down the nine largest banks should they fail will be released to the public July 3, federal regulators said Friday.

U.S. financial institutions with at least $250 billion in nonbank assets and foreign banks with $250 billion or more in nonbank assets in the U.S. are required to submit their resolution plans, also known as living wills, to the Federal Reserve and the Federal Deposit Insurance Corp. by Sunday. The two agencies said that short, public summaries will be released...
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