Banks Urged to Publish Living Wills’ Global Plans

Two members of a Federal Deposit Insurance Corp. advisory committee are challenging major U.S. banks that recently submitted living wills to publish the part of their plans that describeshow they would handle cross-border liquidation. 

Simon Johnson and Anat Admati, members of the FDIC’s Systemic Resolution Advisory Committee, challenged the banks after they failed to explain how they would handle cross-border assets and liabilities in different legal jurisdictions in living will summaries filed this month.

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