Fed, FDIC Release Living Wills for Bank of New York Mellon, State Street
October 04 2012 - 11:49AM
Dow Jones News
By Jeffrey Sparshott
WASHINGTON--U.S. regulators Thursday released so-called living
wills for two banks, a measure meant to help wind down big
institutions if they falter in a severe crisis.
The Federal Reserve and Federal Deposit Insurance Corp. posted
the resolution plans for Bank of New York Mellon Corp. (BK) and
State Street Corp. (STT).
The living wills were mandated for all banks with assets of $50
billion or more by the 2010 Dodd-Frank financial overhaul.
Write to Jeffrey Sparshott at Jeffrey.sparshott@dowjones.com
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