In order to avoid into embarrassment by the taxpayer-funded rescue of the financial system, the U.S. regulatory authorities ordered nine major banks to develop the so-called "living wills" to illustrate the event of emergencies, and how these banks will be split.
The request "living wills" banks, including JP Morgan Chase, Bank of America, Citigroup, Goldman Sachs, Morgan Stanley, Barclays, Deutsche Bank, Credit Suisse Group and UBS AG.
According to documents released Tuesday by the Federal Deposit Insurance Corporation and Federal Reserve Board, these big firms, in the event of operational difficulties, they are confident that the sale of assets or spin-off, without having to use taxpayers' funds to the rescue.
These requirements for the banking industry by 2010, "Dodd - Frank bill, the purpose is to prevent further" too big to fail "banks to provide assistance, the content is serious injuries to his bank to orderly disintegration of the clean-up, while without destroying the order of the financial system.
Some banks, said it may be able to keep its main business, to avoid a complete liquidation. According to overseas media reports, the U.S. regulatory authorities indicates that these proposals finds that the normal functioning of the market will be the buyer in case the government does not come forward to support an acquisition spree.
According to the plan, will eventually have 125 family business will be required to submit a liquidation plan. The announcement of the first batch of non-bank assets in the bank more than $ 250 billion, U.S. regulators announced that "living wills" for systemically important non-banking, they have other large banks will be 12 before the end of next year. submit a plan.
Other News:
The nine large banks in the United States are required to set a ＂living wills＂
Spanish rebar prices are low
Secret Chinese Shashi's deployment of troops
Huangyan Island, the Philippines, continued confrontation between the United Sta
Diaoyu Islands: Taiwan Diaoyu Islands boat breakthrough blockade sail to Diaoyu
United Nations agencies for milk melamine content of new standards
The Shifang aftermath the six detainees should be dealt with according to law
Dispute over Huangyan Island Why not use force?
