Fed Wants 8 Big Banks To Beef Up Crisis Planning

Law360, New York (January 27, 2014, 11:37 AM EST) -- The Federal Reserve on Friday told the eight largest U.S. banks to strengthen their risk monitoring and reporting in their resolution plans in order to increase their ability to survive a financial shock.

Those eight systemically important bank holding companies will be subject to "heightened expectations" regarding their ability to identify and quantify their exposures to derivative transactions, the terms of the contracts underlying those transactions, and how they access funds to keep operating, among other items, as part of the Fed's review of their resolution...
To view the full article, register now.