Banks Have “Recovery Plans,” A Second Living Will, to Deal With Their Demise

By: Friday August 10, 2012 11:46 am

Reuters uncovers a scoop, that there’s apparently a second-layer living will process, a secret one beyond the public living wills we know about. To refresh your memory, banks are required to fill out living wills that detail how they would be unwound in the case of a financial failure. The initial public living wills that [...]

Banks Release Living Wills for Contingency of Winding Down Their Firms

By: Thursday July 5, 2012 6:57 am

As part of Dodd-Frank, systemically important financial institutions (SIFIs) had to put out “living wills” that explained how they would wind themselves down with the least overall disruption in the event of their failure. This was a contested proposition in Dodd-Frank, because many made the compelling point that a megabank with important connections all over [...]