US regulators single out four banks for flawed ‘living wills’
June 21 (Reuters) – U.S. bank regulators said four major banks had shortcomings in their “living wills” – or plans that outline how they could be safely wound down if they went bankrupt or came under pressure.
The four lenders – Citigroup (C.N), opens new tab, Bank of America (BAC.N), opens new tab, Goldman Sachs (GS.N), opens new tab and JPMorgan Chase (JPM.N), opens new tab – all had problems related to the plan to unwind their derivatives portfolios, although some of the specific issues varied, the regulators said.
Source: REUTER
