Big Banks To Submit Living Wills By July 1

27 Jun 2012

JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley are among the nation’s largest banks preparing to submit their “living wills”—plans for unwinding operations—to the Federal Reserve and the Federal Deposit Insurance Corp. by July 1, as mandated by the Dodd-Frank Act.

JPMorgan Chase, Bank of America, Citigroup, Goldman Sachs and Morgan Stanley are among the nation’s largest banks preparing to submit their “living wills”—plans for unwinding operations—to the Federal Reserve and the Federal Deposit Insurance Corp. by July 1, as mandated by the Dodd-Frank Act.

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