Revised 'Living Wills' Released for Five Big U.S. Banks
October 04 2016 - 4:40PM
Dow Jones News
WASHINGTON—U.S. regulators on Tuesday made public new plans
submitted by five of the biggest U.S. banks explaining how they
could wind down their operations in a period of extreme distress
without requiring a taxpayer bailout.
The government required the plans, called "living wills," be
submitted after declaring in April that earlier versions submitted
by the institutions—including J.P. Morgan Chase & Co. and Wells
Fargo & Co.—weren't sufficiently credible.
(END) Dow Jones Newswires
October 04, 2016 16:25 ET (20:25 GMT)
Copyright (c) 2016 Dow Jones & Company, Inc.
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