Banks Face July 1 Living Wills Deadline | WAMU 88.5 - American University Radio
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Banks Face July 1 Living Wills Deadline

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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.
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