NPR logo
Banks Face July 1 Living Wills Deadline
  • Download
  • <iframe src="https://www.npr.org/player/embed/155823924/155823901" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript
Banks Face July 1 Living Wills Deadline

Business

Banks Face July 1 Living Wills Deadline

Banks Face July 1 Living Wills Deadline
  • Download
  • <iframe src="https://www.npr.org/player/embed/155823924/155823901" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

The nation's biggest banks are getting ready to file plans with the government for how they would unwind their assets if they were to fail. The plans are called living wills. Regulators want to avoid the type of damage the collapse of Lehman Brothers had on the financial system. Big banks have a July 1 deadline to submit their living wills to the Federal Reserve and FDIC.

LINDA WERTHEIMER, HOST:

NPR's business starts with living wills for banks.

The nation's biggest banks are getting ready to file plans with the government for how they would unwind their assets if they were to fail. The plans are called living wills. Regulators want to avoid the type of damage the collapse of Lehman Brothers had on the financial system. Big banks have a July 1st deadline to submit their living wills to the Federal Reserve and FDIC.

Copyright © 2012 NPR. All rights reserved. Visit our website terms of use and permissions pages at www.npr.org for further information.

NPR transcripts are created on a rush deadline by Verb8tm, Inc., an NPR contractor, and produced using a proprietary transcription process developed with NPR. This text may not be in its final form and may be updated or revised in the future. Accuracy and availability may vary. The authoritative record of NPR’s programming is the audio record.

Comments

 

Please keep your community civil. All comments must follow the NPR.org Community rules and terms of use, and will be moderated prior to posting. NPR reserves the right to use the comments we receive, in whole or in part, and to use the commenter's name and location, in any medium. See also the Terms of Use, Privacy Policy and Community FAQ.