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Home Compliance and Risk

Fed, FDIC release ‘living wills’ for 15 large banks

October 23, 2025
Reading Time: 1 min read
FDIC approves new guidance for ‘living wills’

The Federal Reserve and FDIC today released the public sections of resolution plans for 15 large banks, including five domestic and 10 foreign banks. The banks were required to submit resolution plans by Oct. 1.

Resolution plans, commonly known as “living wills,” are required by the Dodd-Frank Act. They describe a firm’s strategy for orderly resolution under bankruptcy in the event of material financial distress or failure.

The agencies also released a public summary of Capital One’s interim update to its resolution plan, which was filed following its recent acquisition of Discover. Capital One will file a full resolution plan with a public section by July 1, 2026.

Tags: Bank closuresBank failuresFDICFederal Reserve
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