Living Wills

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Forum Statement on Federal Reserve, FDIC Feedback on Resolution Plans for Large Financial Institutions

“Over the past six years enormous progress has been made to improve the safety, stability, and resilience of the U.S. financial system. Capital has doubled, liquidity has tripled, and annual stress tests show that large financial institutions can withstand a crisis far worse than 2008. Since the last living wills determinations, large financial institutions have worked strenuously to implement structural changes, streamline business models and lower risk in line with feedback received from the Federal Reserve and FDIC. By design, the living will process is iterative and will be ongoing, and the industry remains committed to continuing to work with regulators to ensure effective resolution and recovery planning."

April 13th, 2016|

Wall Street Journal: Big U.S. Banks Refile ‘Living Wills’ After Regulatory Rebuke

“The firms have taken meaningful, concrete steps to ensure their plans are credible and that no firm is too big to fail,” said Rob Nichols, president of the Financial Services Forum, a trade group that represents big banks.

July 6th, 2015|

Forum Statement on Fed, FDIC Resolution Plan Submissions

"The financial services industry is committed to effective resolution and recovery planning through the living wills process. The firms have taken meaningful, concrete steps to ensure their plans are credible and that no firm is too big to fail. The living wills process builds on the many improvements that have made the U.S. financial system stronger, safer and more simple, including the doubling of capital and liquidity, and structural changes to reduce risk and streamline business models."

July 1st, 2015|