Eleven big banks release updated living wills
Prudential regulators published the second-round of updated living wills filed by eleven of the nation's largest banks, according to Reuters.
As part of reforms implemented after the financial crisis, big banks are required to submit blueprints on how the firms plan to wind down in the midst of a financial crisis.
The eleven banks filed their original plans in 2012. Reuters discussed the updates Thursday:
That group of banks with $250 billion or more in nonbank assets in the United States included Bank of America Corp, JPMorgan Chase & Co, Deutsche Bank AG and Barclays Plc.
After finding some gaps in the planning last year, regulators asked banks to include more detailed information this time about potential obstacles to bankruptcy.
They asked banks to consider how their funding and liquidity, global cooperation and interconnectedness could affect regulators' ability to unwind them during a financial crisis.