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U.S. bank regulators sign off on 'living wills' for 82 foreign banks

Published 2019-07-26, 02:00 p/m
© Reuters.  U.S. bank regulators sign off on 'living wills' for 82 foreign banks
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WASHINGTON, July 26 (Reuters) - U.S. bank regulators said Friday they had identified no shortcomings in "living wills" submitted by 82 foreign banks detailing how their U.S. operations could be safely dissolved in a crisis.

The Federal Reserve and Federal Deposit Insurance Corporation did seek additional information from seven banks - HSBC Holdings plc HSBA.L , BNP Paribas BNPP.PA , Royal Bank of Canada RY.TO , Banco Bilbao Vizcaya Argentaria BBVA.MC , S.A., Bank of Montreal BMO.TO , Banco Santander S.A. SAN.MC and Toronto-Dominion Bank TD.TO - in their next plan submissions.

The regulators also announced they were extending the deadline for submitting new resolution plans for those foreign firms and 15 large regional banks until July 1, 2021.

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