Too-Big-To-Fail Banks Not Too Big For A Living Will
October 31, 2011, 6:26 PM EDT
Law360, New York (October 31, 2011, 6:26 PM EDT) -- A major step in the prevention of future financial bailouts has been taken by federal bank supervisors with the adoption on Oct. 17 and Sept. 13 of final joint regulations requiring a resolution plan, or living will, for the largest financial institutions active in the United States. Preparation of these plans will constitute a major undertaking for the institutions, with consequences and ramifications that will continue to evolve over time.
The following provides the background of the new regulations, the requirements that the regulations impose, tips...