U.S. Regulators Seek Probes Into Leak of Banks' Living Wills
- Fed, FDIC seek investigations after media report on details
- Five big banks' living wills were deemed not credible
JPMorgan Tops Estimates, How Will Other Banks Perform?
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U.S. regulators have asked their internal watchdogs to examine how assessments of banks’ plans for winding down during a potential bankruptcy ended up in a news article.
The Federal Reserve and Federal Deposit Insurance Corp. requested that inspectors general investigate whether someone at their agencies’ leaked details on banks’ so-called living wills, spokesmen for the regulators said in interviews Wednesday. The decision follows a Tuesday report in the Wall Street Journal that said the Fed and FDIC found flaws in multiple lenders’ plans.