banks’ living wills News

Fed Gives AIG, Pru More Time to Submit ‘Living Wills’

U.S. bank regulators disclosed on Wednesday how eight of the nation’s largest banks would wind themselves down in the face of collapse and gave American International Group Inc (AIG) and Prudential Financial Inc. an extra year to submit their doomsday …

Global Banks Agree to Swap Contracts to Ease Too-Big-to-Fail

Eighteen global banks have agreed to swaps contract changes designed to work with government rules for unwinding failed firms, a step that may help end the view that some financial companies are “too big to fail.” Counterparties of banks involved …

Report: U.S. Making Progress Against ‘Too-Big-to-Fail’ Bailouts

For the past year, a special team of U.S. bank regulators has been on a quiet mission to end the belief on Wall Street that large banks are “too big to fail.” The team from the Federal Deposit Insurance Corp. …