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Big Banks to Reveal Summaries of Living Wills July 3, FDIC Says

Summaries of company-written plans for unwinding the nine largest systemically important banks operating in the U.S. will be made available to the public July 3, Federal Deposit Insurance Corp. officials said today.

JPMorgan Chase & Co., Bank of America Corp., Citigroup Inc., Goldman Sachs Group Inc., Morgan Stanley, Barclays PLC, Deutsche Bank AG, Credit Suisse Group AG and UBS AG are required to file the so-called living wills to the FDIC and the Federal Reserve by July 2, FDIC officials said on a conference call today. Each bank also must produce a public summary, and the information in those sections will likely contain data from existing public sources, with proprietary information reserved for the regulators, said the officials who disclosed the information under terms that required they not be identified.