Reported 8 months ago
US regulators have identified weaknesses in the living wills of JPMorgan Chase & Co., Bank of America Corp., Goldman Sachs Group Inc., and Citigroup Inc., stating that the plans for a hypothetical wind-down after a financial crisis had shortcomings. Remedial actions are required for the identified weaknesses, with specific issues highlighted in each bank's plan. The banks must address the weaknesses in new resolution plans due by July 1, 2025, although the findings do not result in penalties.
Source: YAHOO