Regulators Find Weaknesses in Citigroup, JPMorgan Chase, Goldman Sachs, and Bank of America's Resolution Plans from specifications grading in canvas Watch Video

⏲ Duration: 0:47
👁 View: 1.7M times
✓ Published: 24-Jun-2024

Description:
Banking regulators found weaknesses in the 2023 resolution plans, or living wills, of Citigroup, JPMorgan Chase, Goldman Sachs, and Bank of America. The plans outlined how the banks would unwind themselves in a crisis or failure. Regulators faulted how the banks planned to unwind their massive derivatives portfolios, financial contracts tied to stocks, bonds, currencies, and interest rates. All four banks were said to have a \