- Those with assets greater than $250B were required to submit new plans this month for winding down operations in the event of another financial disaster.
- The plans differ significantly, but all agree no bailout would be required.
- The 11 banks submitting: BAC, BK, BCS, C, CS, DB, GS, JPM, STT, UBS.
- Bank of America makes note of its sale of 20 non-core assets since 2009, and its excess cash and securities. Said securities, says the bank, can be quickly redeemed for cash, whether through outright sale or repo agreements (no haircut if the other 10 are trying to do the exact same thing?).
- FDIC Press release.
Banks submit revised "living wills" to regulators
Oct 3 2013, 11:20 ET