Biggest Banks Face Higher Bar in Rewritten Living Wills
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Global banks that failed to convince U.S. regulators last year they could go bust without destroying the financial system got another chance this week to submit plans for a safe demise.
Eleven of the largest lenders including JPMorgan Chase & Co., Goldman Sachs Group Inc. and Bank of America Corp. were scheduled to send revised living wills to regulators yesterday, and public portions of those plans may be released as early as today. If regulators aren’t satisfied, the government could force the firms to restructure or sell off pieces.