Banks Must Produce Living Wills To Tell Regulators How To Liquidate Them

Banks Must Produce Living Wills To Tell Regulators How To Liquidate Them

No one likes to imagine their own undoing, but that’s what the government has asked the largest American banks to do, mapping out liquidation plans in “living wills” that will help financial regulators pick apart their carcasses if they go under. The banks have until next year to submit their plans, which are mandated by the 2010 Dodd-Frank Wall Street Reform and Consumer Protection Act. [More]