Live Updates > Live Update Details
2026-05-25 07:50:24
[US regulators approve "living wills" of major banks, deficiencies rectified] (1) The Federal Reserve and the FDIC have approved the bankruptcy liquidation plans (i.e., "living wills") submitted by major domestic banks, finding no deficiencies in the plans of eight major US banks and 56 foreign banking institutions. (2) The two regulators also announced that deficiencies in the previous plans of Bank of America, Goldman Sachs, JPMorgan Chase, and Citigroup have been fully rectified. (3) In 2024, regulators criticized the four banks for failing to provide details on how to safely dispose of their derivatives portfolios; this issue has now been resolved.
