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Releases info on sound risk-control practices

Federal Reserve graphic

Too-big-to-fail worries are far from over at the Federal Reserve.

The prudential regulator released more information Friday on what it expects eight domestic bank holding companies to do to prepare for the unexpected, such as a massive financial crisis or a material weakness within the banking system.  

The additional guidance applies to Bank of America (BAC), Bank of New York Mellen, Citigroup (C), Goldman Sachs (GS), JPMorgan Chase (JPM), Morgan Stanley, State Street Corp. (STT) and Wells Fargo & Co. (WFC).

The Federal Reserve advised these institutions to ensure they have robust systems to manage collateral, information, payments, clearing and settlement activities in case they enter a period of tight liquidity and stress.

Click here to read more from the Federal Reserve website.

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