WASHINGTON, June 21 (Reuters) – U.S. bank regulators ordered Bank of America, Citigroup, Goldman Sachs and JPMorgan Chase on Friday to bolster plans for how they could be safely resolved in bankruptcy, and FDIC escalated its concerns about Citi’s blueprint.
Specifically, the Federal Reserve and Federal Deposit Insurance Corporation said the banks need to refine their so-called living wills to show how they could safely unwind their derivatives portfolios when they next submit plans to regulators in 2025.
Source: REUTER
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