US regulators reject "too big to fall" banks proposals in case of another major 'blackout'

US regulators reject “too big to fall” banks proposals in case of another major 'blackout'

Friday, April 15th 2016 - 09:04 UTC

Full article 2 comments

US regulators have rejected the plans of five big US banks for closing their operations in the event of a crisis. Banks labeled “too big to fail” must have a so called “living will” that would allow them to close down without the help of public money. Bank of America, Bank of New York Mellon, JPMorgan Chase, State Street and Wells Fargo have until 1 October to submit improved plans. Read full article

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Hepatia
Yet another reason why Bernie Sanders should be president of the United States.
Apr 16th, 2016 - 02:29 am - Link - Report abuse 0
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L0B0MAU
The Bankers' Mafia needs some clipping of wings; to minimize [if not eliminate] the risks of the Global Economic Disasters.
Apr 18th, 2016 - 10:23 am - Link - Report abuse 0
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