Federal Reserve issues ‘living will’ guidance for large US banks

WASHINGTON (Reuters) – The Federal Reserve issued new guidance on Monday for larger U.S. banks detailing how they should develop “living wills” detailing how they can be safely dissolved.

The guidance, which generally applies to banks with over $250 billion in assets but not the largest globally systemic firms, matches guidance approved in July by the Federal Deposit Insurance Corporation.

(Reporting by Pete Schroeder; Editing by Chris Reese)