Federal Reserve criticises ‘living wills’ of Bank of America, Citi, Goldman and JPMorganFinancial Times

Regulators hit Citigroup, JPMorgan Chase, Goldman Sachs and Bank of America over living will plans

The living wills are a key Federal Reserve and FDIC exercise mandated in the aftermath of the 2008 global financial crisis.

Federal Reserve criticises ‘living wills’ of Bank of America, Citi, Goldman and JPMorganFinancial Times

Regulators say they spotted ‘shortcomings’ in how the lenders would handle their own failures

Fed Faults Living Wills of BofA, Citi, Goldman and JPMorgan

Four of the biggest banks on Wall Street must improve their blueprints for a hypothetical wind-down after top US regulators found weaknesses in their plans.

JPMorgan, Citigroup, Bank of America, and Goldman Sachs have weaknesses in their bankruptcy plans

Federal regulators found fault in the unwinding plans of several of the largest U.S. banks.Read more...