In The Event Of Failure, 4 Major Banks Have 'Shortcomings': FDIC
Portfolio Pulse from Michael Juliano
The FDIC and Federal Reserve have identified shortcomings in the living will plans of four major U.S. banks: Bank of America, Citigroup, Goldman Sachs, and JPMorgan Chase. These plans are crucial for guiding the banks in the event of a collapse. Citigroup's plan was deemed 'not credible,' and all four banks have been asked to address these issues by July 2025.
June 21, 2024 | 8:17 pm
News sentiment analysis
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NEGATIVE IMPACT
Bank of America has been identified by the FDIC and Fed for shortcomings in its living will plan, which needs to be addressed by July 2025.
The identification of shortcomings in Bank of America's living will plan by the FDIC and Fed could lead to increased regulatory scrutiny and potential operational changes, negatively impacting investor sentiment in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
Citigroup's living will plan was deemed 'not credible' by the FDIC, highlighting significant deficiencies that need to be addressed by July 2025.
Citigroup's living will plan being deemed 'not credible' by the FDIC is a significant regulatory issue, likely to result in increased scrutiny and operational changes, negatively impacting investor sentiment.
CONFIDENCE 95
IMPORTANCE 80
RELEVANCE 100
NEGATIVE IMPACT
Goldman Sachs has been identified by the FDIC and Fed for shortcomings in its living will plan, which needs to be addressed by July 2025.
The identification of shortcomings in Goldman Sachs' living will plan by the FDIC and Fed could lead to increased regulatory scrutiny and potential operational changes, negatively impacting investor sentiment in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80
NEGATIVE IMPACT
JPMorgan Chase has been identified by the FDIC and Fed for shortcomings in its living will plan, which needs to be addressed by July 2025.
The identification of shortcomings in JPMorgan Chase's living will plan by the FDIC and Fed could lead to increased regulatory scrutiny and potential operational changes, negatively impacting investor sentiment in the short term.
CONFIDENCE 90
IMPORTANCE 70
RELEVANCE 80