Federal Reserve Board Provides Additional Information On Expectations For Recovery And Resolution Preparedness Of Certain Large Domestic Bank Holding Companies
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On 24 January 2014, the Board of Governors of the Federal Reserve System issued supervisory guidance on its expectations for the recovery and resolution preparedness of certain large domestic bank holding companies.
On 24 January 2014, the Board of Governors of the Federal
Reserve System (Federal Reserve Board) issued supervisory guidance
on its expectations for the recovery and resolution preparedness of
certain large domestic bank holding companies. The supervisory
guidance discusses the importance of having robust systems to
manage collateral, information, and payments, clearing, and
settlement activities. The expectations will be incorporated into
the Federal Reserve Board's ongoing supervisory assessments of
recovery and resolution preparedness at large bank holding
companies subject to the guidance. The supervisory guidance is
applicable to eight domestic bank holding companies: Bank of
America Corporation; Bank of New York Mellon Corporation, PLC;
Citigroup Inc.; Goldman Sachs Group, Inc.; JPMorgan Chase &
Co.; Morgan Stanley; State Street Corporation; and Wells Fargo
& Company.
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