Monday, 24 June 2024: FDIC finds "shortcomings" in living wills in four of the eight largest U.S. banks
![Monday, 24 June 2024: FDIC finds "shortcomings" in living wills in four of the eight largest U.S. banks](https://d3wo5wojvuv7l.cloudfront.net/t_square_limited_480/images.spreaker.com/original/cd28525abfd602a496c37176cbece14f.jpg)
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Descrizione
US equity markets logged modest declines on Friday (21 June) as semiconductor stocks retreated for a second straight session - Dow inched +16-points or +0.04% higher, with Intel Corp (up...
mostra di piùGoldman Sachs Group Inc (down -1.72%) and JPMorgan Chase & Co (-1.19%) were both under pressure after the U.S. Federal Deposit Insurance Corp (FDIC) and the Federal Reserve Board on Friday (21 June) said they have found “shortcomings” in the so-called living wills of four of the eight largest U.S. banks. Since the 2008 financial crisis and the Dodd-Frank legislation to shore up the U.S. banking system, big banks have been required to file living wills with regulators to lay out plans for an orderly bankruptcy. Meanwhile, New York Fed's Liberty Street Economics blog cautioned last Thursday (20 June) that the big US banks face growing spillover risks from non-banks that could trigger "vectors of shock transmission and amplification, forcing authorities to intervene and do so en masse," the post said, adding that the disruptions "could be rather severe."
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Autore | Morgans Financial Limited |
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