The Federal Reserve Board on Friday announced additional supervisory expectations for eight of the largest U.S. banks as part of their preparedness for future crises.
Bank of America, Bank of New York Mellon, Citigroup and JPMorgan Chase, among others, were given additional supervisory guidance as they conduct recovery and resolution planning that the Fed has required since the 2008 financial crisis. The central bank identified a range of capabilities large bank holding companies should have to beef up resilience and contingency planning when capital and liquidity buffers may be strained, the Fed explained in the guidance.
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