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ARTICLE · 03 DECEMBER 2018

FDIC To Streamline Living Will Requirements

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FDIC Chair Jelena McWilliams stated that the FDIC plans to streamline resolution (i.e., living will) requirements for U.S. global systemically important banking organizations and regional banks.

United StatesFinance and Banking

FDIC Chair Jelena McWilliams stated that the FDIC plans to streamline resolution (i.e., living will) requirements for U.S. global systemically important banking organizations ("GSIBs") and regional banks.

In remarks before the 2018 Annual Conference of The Clearing House and Bank Policy Institute, Ms. McWilliams said that the failure of financial institutions is a critical part of the market and that the goal is to ensure that failure occurs in the least disruptive manner possible (i.e., without taxpayer bailouts or systemic market failure). In order to best achieve this goal, Ms. McWilliams said the priority is to take steps to "facilitate orderly resolution of . . . firms in bankruptcy."

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