trending Market Intelligence /marketintelligence/en/news-insights/trending/sT3vXosTUiei0nDhV584MQ2 content
Log in to other products

Login to Market Intelligence Platform


Looking for more?

Contact Us

Request a Demo

You're one step closer to unlocking our suite of comprehensive and robust tools.

Fill out the form so we can connect you to the right person.

  • First Name*
  • Last Name*
  • Business Email *
  • Phone *
  • Company Name *
  • City *
  • We generated a verification code for you

  • Enter verification Code here*

* Required

In This List

Regulators find shortcomings in resolution plans of 6 large US banks

Street Talk Episode 56 - Latest bank MOE shows even the strong need scale to thrive

South State CenterState MOE Shows Even The Strong Need Scale To Thrive

Talking Bank Stocks, Playing The M&A Trade With Longtime Investor

Report: Kashkari Says Fed In Holding Pattern But Rate Cut Still Possible

Regulators find shortcomings in resolution plans of 6 large US banks

The Federal Reserve Board and the Federal Deposit Insurance Corp. found no deficiencies in the resolution plans, or "living wills," of the largest and most complex domestic banks.

Resolution plans from six of the eight banks, however, had "shortcomings," or weaknesses that raise questions about the feasibility of a company's plan but are not as severe as a deficiency. Plans to address the shortcomings are due to the regulators by March 31, 2020.

In the resolution plans of Bank of America Corp., Bank of New York Mellon Corp., Citigroup Inc., Morgan Stanley, State Street Corp. and Wells Fargo & Co., the Fed and the FDIC found shortcomings related to the ability of the companies to reliably produce, in stressed conditions, data that is needed to execute their resolution strategy. Examples include measures of capital and liquidity at relevant subsidiaries.

No shortcomings were found in the plans from Goldman Sachs Group Inc. and JPMorgan Chase & Co.

Additionally, the regulators announced that Bank of America, Goldman Sachs, Morgan Stanley and Wells Fargo had addressed prior shortcomings identified in their December 2017 resolution plan review.