US Regulators Approve 2025 Bank Resolution Plans, No Deficiencies Found
The FDIC and Federal Reserve Board released feedback letters for resolution plans submitted in July 2025 by eight major U.S. banks and 56 foreign banking organizations. The agencies found no shortcomings or deficiencies in the submissions and confirmed that derivatives-related weaknesses identified in 2023 plans from Bank of America, Goldman Sachs, JPMorgan Chase, and Citigroup have been satisfactorily addressed. The feedback covers institutions including Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Wells Fargo, and HSBC North America.
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Fed and FDIC Approve Living Wills for Eight Largest US Banks
The Federal Reserve and Federal Deposit Insurance Corporation (FDIC) have approved the resolution plans, known as 'living wills,' for the eight U.S. global systemically important banks (G-SIBs), finding no shortcomings or deficiencies. The agencies also confirmed that JPMorgan Chase, Bank of America, Citi, and Goldman Sachs have adequately addressed a 2024 shortcoming related to their derivative portfolios. Citi made material enhancements to its resolution forecasting systems and data controls, including a new financial forecasting system for entity-level statements. Bank of America enhanced its global wind-down tool for derivatives data. JPMorgan developed the ability to adjust macroeconomic scenario inputs for derivatives unwind simulations. Goldman improved its derivatives portfolio segmentation and novation assumptions. The banks submitted their plans by a July 2025 deadline, as required every two years for orderly resolution in case of financial distress or failure.
Yahoo FinanceUS Agencies Publish Resolution Plan Feedback Letters for Domestic and Foreign Banks
The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board released feedback letters for resolution plans submitted in July 2025 by the eight largest and most complex domestic banking organizations and 56 foreign banking organizations. Resolution plans, or living wills, outline a bank's strategy for orderly resolution in case of material financial distress or failure. The agencies found no shortcomings or deficiencies in these submissions. Additionally, they determined that derivatives-related weaknesses identified in the 2023 plans of Bank of America, Goldman Sachs, JPMorgan Chase, and Citigroup have been satisfactorily addressed. The feedback letters are available for institutions including Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, and others.
FRB: Press Release - All ReleasesUS Agencies Publish Resolution Plan Feedback Letters for Domestic and Foreign Banks
The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board released feedback letters for resolution plans submitted in July 2025 by the eight largest domestic banking organizations and 56 foreign banking organizations. Resolution plans, or living wills, outline a bank's strategy for orderly resolution during financial distress or failure. The agencies found no shortcomings or deficiencies in these submissions. Additionally, they determined that derivatives-related weaknesses identified in the 2023 plans of Bank of America, Goldman Sachs, JPMorgan Chase, and Citigroup have been satisfactorily addressed. The feedback letters are available for institutions including Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Wells Fargo, and HSBC North America, among others.
FRB: Press Release - All ReleasesUS Agencies Publish Resolution Plan Feedback Letters for Domestic and Foreign Banks
The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board released feedback letters for resolution plans submitted in July 2025 by the eight largest U.S. domestic banking organizations and 56 foreign banking organizations. Resolution plans, or living wills, outline strategies for orderly bank failure resolution. The agencies found no shortcomings or deficiencies in the 2025 submissions. Additionally, derivatives-related weaknesses identified in 2023 plans from Bank of America, Goldman Sachs, JPMorgan Chase, and Citigroup were determined to have been satisfactorily addressed. The feedback letters are available for institutions including Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Wells Fargo, and others.
FRB: Press Release - All ReleasesUS Agencies Publish Resolution Plan Feedback Letters for Domestic and Foreign Banks
The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board released feedback letters for resolution plans submitted in July 2025 by eight major domestic banking organizations and 56 foreign banking organizations. Resolution plans, or living wills, outline a bank's strategy for orderly resolution during financial distress or failure. The agencies found no shortcomings or deficiencies in the 2025 submissions. Additionally, they determined that derivatives-related weaknesses identified in the 2023 plans of Bank of America, Goldman Sachs, JPMorgan Chase, and Citigroup have been satisfactorily addressed. The feedback letters cover institutions including Bank of America, Bank of New York Mellon, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, State Street, Wells Fargo, HSBC North America, and template letters for foreign banking organizations.
FRB: Press Release - All ReleasesUS Agencies Publish Resolution Plan Feedback Letters for Domestic and Foreign Banks
The Federal Deposit Insurance Corporation (FDIC) and the Federal Reserve Board released feedback letters for resolution plans submitted in July 2025 by the eight largest domestic banking organizations and 56 foreign banking organizations. Resolution plans, or living wills, outline strategies for orderly resolution during financial distress or failure. The agencies found no shortcomings or deficiencies in the 2025 submissions. Additionally, they determined that derivatives-related weaknesses identified in the 2023 plans of Bank of America, Goldman Sachs, JPMorgan Chase, and Citigroup have been satisfactorily addressed. The feedback letters are available for institutions including Bank of America, Citigroup, Goldman Sachs, JPMorgan Chase, Morgan Stanley, Wells Fargo, and HSBC North America, among others.
FRB: Press Release - All Releases