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JPMorgan Chase & Co.
Too-big-to-fail banks' living wills are inadequate, regulators say
Too-big-to-fail banks' living wills are inadequate, regulators say

Six years after the financial crisis, regulators said that 11 banks deemed too big to fail still have produced no workable procedures to help regulators shut them down should they ever reach the brink of failure. The Federal Reserve and the Federal Deposit Insurance Corp. chastised Wall Street financial institutions in rejecting the plans Tuesday. The regulators criticized "unrealistic or inadequately supported assumptions" and the "failure to make, or even to identify, the kinds of changes in firm structure and practices that would be necessary to enhance the prospects for orderly resolution." The requirement for these resolution plans, or living wills, as they are...

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