FDIC offers public sections of living wills for 21 large financial institutions

Public sections of resolution plans for 21 large financial institutions were released Wednesday by the federal deposit insurance agency, which said that was its way of fostering transparency of the plans.

The Federal Deposit Insurance Corp. (FDIC) said the plans (also known as “living wills”) are divided into public and confidential sections. The public parts that are released, the agency said, summarize “certain elements of the resolution plan.”

The living wills provide the outline for the FDIC as a receiver in the event of one of the institutions’ failure to resolve the institution to ensure depositors’ timely access to deposits. The living wills also are designed to maximize returns on the sale or disposition of assets, and minimize creditor losses, the agency said.

The plans are based on information provided to the agency, by the banks, on Dec. 1.

FDIC Releases Public Resolution Plans for 21 Large Banks

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