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Banks post 'living wills' showing how they would avoid U.S. bailout
reuters.com
More than 120 banks and other financial institutions on Friday posted plans for how they would wind down operations during a crisis, without the help of public money.
U.S. regulators will scour those "living wills" to make sure they are credible. Under the 2010 Dodd-Frank Act, the federal government can carve up a bank if regulators do not believe its plan is workable and in recent years they have faulted more than a dozen banks for drafting overly optimistic or not credible plans.
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