Market Overview

Fed Offers Added Info on Expectations for Recovery, Resolution Preparedness of Bank Holding Cos.

Related GS
Lloyd Blankfein: This Could Very Well Be The Chinese Century
Lloyd Blankfein On The State Of U.S. Economy, Slump In Oil Prices
Most Americans Likely Not Hiking Holiday Budgets (Fox Business)
Related C
A Good Day For The Payments Industry
Keefe, Bruyette & Woods On Citigroup's Emerging Market Exposure
In Biggest LBO of '14, BC Partners to Buy PetSmart (Fox Business)

The Federal Reserve Board on Friday provided additional information on its expectations for the recovery and resolution preparedness of certain large domestic bank holding companies. Recovery and resolution preparedness aims to reduce the effect of a firm's failure or material weakness on the financial system and the broader economy.

The supervisory guidance discusses the importance of having robust systems to manage collateral, information, and payments, clearing, and settlement activities. It also stresses the importance of adequate liquidity and funding arrangements during times of stress. The expectations will be incorporated into the Federal Reserve's ongoing supervisory assessments of recovery and resolution preparedness at large bank holding companies subject to the guidance.

The supervisory guidance is applicable to eight domestic bank holding companies--Bank of America Corporation; Bank of New York Mellon Corporation, PLC; Citigroup Inc.; Goldman Sachs Group, Inc.; JPMorgan Chase & Co.; Morgan Stanley; State Street Corporation; and Wells Fargo & Company.

For media inquiries, call 202-452-2955.

SR letter 14-1

2014 Banking and Consumer Regulatory Policy

Posted-In: News

 

Related Articles (BAC + C)

Around the Web, We're Loving...

Get Benzinga's Newsletters

Benzinga Professional