Reuters: Fed Tells GE Capital to Upgrade Resolution Plans
JUL 29, 2015 - 6:47 am
According to Reuters, the Federal Reserve and the FDIC told GE Capital, along with insurance companies American International Group and Prudential Financial, that they need to upgrade their resolution plans and provide more information on funding and liquidity.
As Reuters notes, the plans amount to “living wills” for the systemically important financial institutions and must provide an outline of how they will shrink themselves without causing harm to the existing system.
Reuters said that the Fed and FDIC want more detailed information on funding, liquidity and how these SIFIs connect with the global financial industry.
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