Big Banks to Tell Regulators How to Dismember Their Corpses
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Nine of the biggest banks, including JPMorgan Chase & Co. and Bank of America Corp., are set to deliver plans this week for how their businesses could be unwound after a collapse as part of a U.S. government effort to show no financial firm is too big to fail.
Lenders with more than $250 billion in nonbank assets must deliver so-called living wills -- liquidation plans expected to run into thousands of pages -- by July 1 to banking regulators charged with determining whether they are credible.