Tags: State | Bank | living | wills

State Street, Bank of NY Mellon Submit Living Wills to Fed

Thursday, 04 October 2012 11:43 AM EDT

State Street Corp. and Bank of New York Mellon Corp. have submitted living wills to banking regulators, the Federal Reserve announced on Thursday.

The plans, which give regulators a map for winding down large U.S. banks, were mandated by the 2010 Dodd-Frank reform and seek to end too-big-to-fail bailouts by the government.

Nine banks had already submitted their plans, including Bank of America Corp and Citigroup Inc. Regulators said they had received the two new living wills by an Oct. 1 deadline.

© 2026 Thomson/Reuters. All rights reserved.


Companies
State Street Corp. and Bank of New York Mellon Corp. have submitted living wills to banking regulators, the Federal Reserve announced on Thursday.
State,Bank,living,wills
82
2012-43-04
Thursday, 04 October 2012 11:43 AM
Newsmax Media, Inc.

Sign up for Newsmax’s Daily Newsletter

Receive breaking news and original analysis - sent right to your inbox.

(Optional for Local News)
Privacy: We never share your email address.
Join the Newsmax Community
Read and Post Comments
Please review Community Guidelines before posting a comment.
 
Get Newsmax Text Alerts
TOP

Newsmax, Moneynews, Newsmax Health, and Independent. American. are registered trademarks of Newsmax Media, Inc. Newsmax TV, and Newsmax World are trademarks of Newsmax Media, Inc.

NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved
NEWSMAX.COM
MONEYNEWS.COM
© Newsmax Media, Inc.
All Rights Reserved