Six Of The Biggest U.S. Banks Have Weaknesses In Their Crisis Plans
The Federal Reserve Board and the Federal Deposit Insurance Corporation found shortcomings in the exit strategies — or “living wills” — of six of the eight largest banks in the U.S., it said on Tuesday. Why it matters: These living wills dictate how big banks handle bankruptcy during financial distress — or a financial crisis. Bank of America and Wells Fargo are among those…
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