Feds Release 'Living Will' Summaries For 8 US Megabanks

Law360 (July 23, 2019, 6:56 PM EDT) -- Federal banking agencies on Tuesday posted the public portions of top U.S. banks' latest plans for taking them apart safely in bankruptcy if they fail, filings that come as regulators look to reduce how frequently these full "living wills" must be drawn up.

The Federal Reserve and the Federal Deposit Insurance Corp. released the resolution plan overviews from the eight U.S. global systemically important banks, or GSIBs, almost all of which have more than $250 billion in total assets. They last submitted in 2017 and were required to file their full plans by July 1.

The agencies will now review and...

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