The FDIC and the Board of Governors of the Federal Reserve System ("FRB" and, collectively, the "Agencies") released the public sections of the resolution plans (or "living wills") of eight large domestic firms: Bank of America Corporation, Bank of New York Mellon Corporation, Citigroup Inc., Goldman Sachs Group, JPMorgan Chase & Co., Morgan Stanley, State Street Corporation, and Wells Fargo & Company.
The public portion of each plan summarizes certain aspects of that plan, including information regarding a firm's material entities and core business lines, and "information helpful in understanding how the resolution plan would be executed." The press release states that "the public portions of the resolution plans, as provided by the firms, are available on the FDIC and Board websites."
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
