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ID:

623

Date:

2012-08-10

Headline:

Exclusive: U.S. banks told to make plans for preventing collapse

Reporter's name:

Rick Rothacker

Delay/denial:

No

Lawsuit:

No

Fees:

No

Media outlet:

Reuters

City:

New York, NY

Summary:

Federal regulators urged five of the nation’s largest banks to develop drastic “recovery plans” to help prepare for an economic disruption like that of 2007-08 – distinct from the “living wills” which nine global banks submitted to the Federal Reserve and the Federal Deposit Insurance Corporation. The Federal Reserve released copies of the letters to the five banks to Reuters in response to a FOIA request, but withheld 5,100 pages of information as confidential supervisory information.

Notes:

See, for example, http://www.law.harvard.edu/programs/about/pifs/symposia/europe/baer.pdf

Keywords:

Federal Reserve, Treasury, Federal Deposit Insurance Corporation, FDIC, Bank of America Corp, Goldman Sachs Group Inc, Citigroup Inc, Morgan Stanley, JPMorgan Chase & Co, recovery plans, resolution plans, U.S. Office of the Comptroller of the Currency, OCC, Dodd-Frank

URL:

http://www.reuters.com/article/2012/08/10/us-banks-recoveryplans-idUSBRE87905N20120810


Agencies:

FED
TREAS

States:

NY

Categories:

business


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