Are banks prepared to handle another crisis? An article in the Financial Times explains that so far, the first batch of living wills are not up to par for U.S. regulators. As a result, they are choosing to intervene again to clarify exactly what they expect from banks.

“We have taken a really big step forward in establishing global consensus around what is needed to implement the two basic types of resolution strategy,” said Paul Tucker, deputy governor of the Bank of England, while speaking to the Financial Times.