Fed, FDIC Extend Living Will Deadline For 19 Foreign Banks

Law360, New York (August 8, 2017, 10:29 PM EDT) -- The Federal Reserve Board and Federal Deposit Insurance Corp. on Tuesday extended the deadline for 19 foreign banks and two domestic bank holding companies to file their next round of "living wills" detailing how they can be speedily and safely wound down in the event of a crisis.

The new deadline for these firms to file their updated resolution plans is Dec. 31, 2018, giving them an additional year "to address any supervisory guidance in their next plan submissions," the regulators said in a statement. HSBC...
To view the full article, register now.