FDIC, Fed Release Living Wills for Nine Large Banks
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Nine of the largest global banks on Tuesday provided a peek into how their firms could be salvaged or dismantled if they became insolvent, as U.S. regulators released public portions of their "living wills".

The documents, required by the 2010 Dodd-Frank financial reform law, did not provide great detail on their resolution strategies, and varied greatly from firm to firm.

The nine banks submitting wills were Bank of America, Barclays, Citigroup, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase & Co, Morgan Stanley and UBS.

The Federal Reserve and Federal Deposit Insurance Corp released the plans without commenting on them.

The disclosed portions of the plans generally concluded that the banks could be recapitalized, or dismembered, or closed down with no cost to taxpayers or great consequence to the financial system.

"The Resolution Plan would not require extraordinary government support, and would not result in losses being borne by the US government," JPMorgan said in its document.


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