U.S. regulators extend 'living will' deadline for some large banks

August 2, 2016 6:02 PM

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WASHINGTON Thirty-eight large financial companies will get an additional year to develop plans for how to unwind their business in an orderly way in the event of bankruptcy, U.S. banking regulators said on Tuesday.

The lenders will have until the end of next year to present their resolution plans, or "living wills," to regulators, according to the Federal Deposit Insurance Corporation and Federal Reserve. The previous deadline had been this December.

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