WASHINGTON—The Federal Reserve Board and the Federal Deposit Insurance Corporation have released the public sections of resolution plans—commonly referred to as “living wills”—for the eight largest and most complex U.S. banking organizations, along with 56 foreign banking entities. The institutions were required to submit their plans by July 1, 2025.
Mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act, resolution plans outline how a banking organization could be resolved through bankruptcy in an orderly manner should it experience severe financial distress or failure. Each plan includes both public and confidential components. To promote transparency, the public sections must include summaries of key elements of the resolution strategy, the agencies stated in a joint release.
Separately, the FDIC also released the public portions of resolution plans from 12 large insured depository institutions (IDIs), submitted under the agency’s IDI Rule. These plans are intended to guide the FDIC in the event it must resolve an IDI under the Federal Deposit Insurance Act.
The public sections of all submitted resolution plans are now available on the websites of both the FDIC and the Federal Reserve Board.