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Agencies release public portions of living wills
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Financial Stability
Friday, January 23, 2015
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Under the Dodd-Frank Act, bank holding companies with total consolidated assets of $50 billion or more and nonbank financial companies designated for enhanced prudential supervision by the Financial Stability Oversight Council are required to submit resolution plans to the Federal Reserve Board and the Federal Deposit Insurance Corp. describing the company’s resolution strategy in the event of material financial distress or failure. The public versions of these resolutions, commonly known as living wills, recently have been released. Read on for the details.
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