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The Wednesday Express: North American financials

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The Wednesday Express: North American financials

* The Federal Reserve and the FDIC yesterday released the publicportions of banks' updated livingwills. Since the last review, Goldman Sachs has come up with an analysisof possible legal obstacles to it financially supporting subsidiaries. Morgan Stanleyhas developed a guide to communicating with rating agencies to keep its high during a resolution.

* Citigroup, meanwhile, will use pre-defined metrics to management and directors ifbankruptcy is likely. Wells Fargo identified technology needed to maintain critical services. And BNYMellon now has a single-point-of-entryresolution plan, as opposed to one involving a bridge bank.

* Parts of JPMorgan's,Bank of America's andState Street's livingwills were also released.

* Fitch's bank peer review sawthe rating agency's outlooks for Fifth Third and Wells Fargo fall to from stable.

* Two Fed task forces, or a total of 500 people, are reviewingproposals for a faster U.S. paymentsystem.

* And the CFPB finalized some consumer protections for prepaidcard users, such as a cap on losses when cards are lost.

* Japan-based Sompo Holdings is acquiringBermuda-based Endurance Specialty Holdings for approximately $6.30 billion.

* Ascension Insurance and AscensionInsurance Agency will acquirethe High Point and Lexington, N.C., and Warrenton and Marshall, Va., operationsof Greenpoint Insurance Group.

* Massachusetts-based Berkshire Bank is looking to some of the assets and assumecertain liabilities of Vermont-based firm Ronald N. Lazzaro PC.

* In Indiana, Horizon Bank will acquire approximately and assumeabout $15 million in deposits from a First Farmers Bank & Trust branch.

* California'sMendo Lake Credit Union and Community First Credit Union are merging.

* Monument Bank of Doylestown, Pa., plans to form a , Monument BancorpInc.

* In people news, HenryBrown Jr. is retiring as chief credit officer of Georgia-based ColonyBankcorp.

* BOM of Louisiana promoted Ronald Roy to COO.

* EZCORP named JosephRotunda COO.

* And JohnVaske is leaving Goldman Sachs, where he is one of the vice-chairmen for M&A,The Wall Street Journal reports.

* The New Jersey Investment Council's plan to cut hedge fundexposure by 52% will see it pull out $190million from an Och-Ziff Capital-managed firm.

* And New York-based Kortright Capital Partners is Investcorp Investment Advisors.

The Daily Dose: ExpressEdition is updated as of 6:30 a.m. ET. Some external links may require a subscription.