Economic news

Eight largest U.S. banks present their “living will”

U.S. regulators did not find in the plans for possible bankruptcies of the U.S. eight largest and most complex in structure banking organizations such shortcomings that could cause a revision of these plans. The presence of shortcomings could lead to stricter requirements for these financial institutions.

The U.S. Federal Reserve and the Federal Deposit Insurance Corp. also reported that the plans of the four banks have deficiencies, which require additional attention when developing the following "wills". This applies to Bank of America, Goldman Sachs, Morgan Stanley and Wells Fargo.

In the anti-crisis plans of Bank of New York Mellon, Citigroup, J.P. Morgan Chase and State Street defects were not revealed, the report says.



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