Living Wills For Banks

Introduction

For quite some time now, discussions have been ongoing both in the Netherlands and abroad as to the measures that should be taken in order to prevent a repetition of the financial crisis. A recurring subject in these discussions is the imposition of an obligation for financial institutions to draw up a "living will" (a type of emergency plan for crisis situations). However, although it is becoming increasingly likely that such an obligation will actually be imposed, it seems that no clear consensus has been reached regarding the exact contents of a living will. This newsletter is intended to outline the current state of affairs on the subject, based on the most recent developments.