Living Wills - Resolution Plans for Banks
May 24, 2016
The Dodd-Frank Act's Title I requires, among other things, that both U.S. and non-U.S. financial institutions that meet certain size thresholds must submit plans for their orderly resolution, informally known as "Living Wills," to the Federal Reserve and the FDIC. These banks must demonstrate in their Living Wills that, in the event of material financial distress, they can be resolved in an orderly way, with no systemic disruptions to the U.S. financial system. Since the first plans were filed in July of 2012, the regulatory environment surrounding the plans continues to evolve.
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