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C Oct 2024 57.500 put
- Yahoo Finance
Regulators find weakness in 'living wills' from BofA, Citi, Goldman, and JPM
Regulators found weaknesses in "living wills" submitted by four of the country’s largest banks detailing how the lenders would wind themselves down if something catastrophic were to happen.
- Reuters
US regulators chide four big-bank living wills, FDIC escalates Citi concerns
WASHINGTON (Reuters) -U.S. bank regulators ordered Bank of America, Citigroup, Goldman Sachs and JPMorgan Chase on Friday to bolster plans for how they could be safely resolved in bankruptcy, and FDIC escalated its concerns about Citi's blueprint. Specifically, the Federal Reserve and Federal Deposit Insurance Corporation said the banks need to refine their so-called living wills to show how they could safely unwind their derivatives portfolios when they next submit plans to regulators in 2025.
- Zacks
Citigroup's (C) Living Will Plan Refused by US Regulators
Citigroup's (C) 'living will' plan for winding down in the event of a catastrophic event has been rejected by U.S. banking regulators, citing deficient data controls at the bank.
