WASHINGTON Oct 3 U.S. bank regulators on
Thursday released portions of the biggest banks' updated "living
wills," or blueprints for how they could be wound down in a
The resolution plans are a key component of regulators'
efforts to crack down on Wall Street after the 2007-2009
financial crisis. The 2010 Dodd-Frank law called for banks to
spell out how they could be taken apart as a way to prevent
future costly taxpayer bailouts.
The Federal Reserve and Federal Deposit Insurance Corp said
11 of the biggest banks operating in the United States first
filed their resolution plans in 2012 and were required to submit
updated versions by Oct. 1.
That group of banks with $250 billion or more in nonbank
assets in the United States included Bank of America Corp
, JPMorgan Chase & Co, Deutsche Bank AG
and Barclays Plc.
Under the rules, banks turn in both a public portion, which
is posted on the Fed's and FDIC's websites, and a confidential
section that regulators scrutinize.
After finding some gaps in the planning last year,
regulators asked banks to include more detailed information this
time about potential obstacles to bankruptcy.
They asked banks to consider how their funding and
liquidity, global cooperation and interconnectedness could
affect regulators' ability to unwind them during a financial
A second group of banks, including Wells Fargo & Co
and HSBC Holdings Plc, filed their first living wills
The final group, banks with more than $50 billion but less
than $100 billion in total U.S. assets, must turn plans in by
the end of the year, regulators said.