There are questions to ask, however: Aren't the banks insolvent now having off-loaded all those toxic assets to the Fed? Don't the "off balance sheets" count? If the banks are already on life-support, how can a living will help? Pull the plug and let the patient die!
Regulators release 'living wills' for big banks
By Peter Schroeder - On The Money
Banking regulators released public portions of "living wills" submitted by nine of the world's largest banks, which details how they could be dissolved if trouble strikes.
The documents, required as part of the Dodd-Frank financial reform law, mark an effort to ensure that huge financial institutions, if struggling to stay afloat, can be safely wound down without posing a threat to the overall financial system.
The Federal Reserve and the Federal Deposit Insurance Corporation (FDIC) posted the public portions of the plans online, saying they had not been reviewed or edited by the regulators.
The plans were submitted by Bank of America, Barclays, Citigropu, Credit Suisse, Deutsche Bank, Goldman Sachs, JPMorgan Chase, Morgan Stanley and UBS. Several of the banks said their plans could be executed without requiring any additional government support, as required in the law.
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