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.
14:34 Coca-Cola Elevating Operating Chief to CEO, Succeeding Kent13
20:19 Goldman Sachs No. 2 Seen as a Top Economic Adviser to Trump13
19:34 CEO shift at Coca-Cola could usher in more dealmaking to refresh soda giant's growth12
03:17 Nintendo legend Miyamoto: Mario needs to evolve to survive18