Statement by FDIC Director Wigand, and Acting General Counsel Osterman, Jr., on Who's Too Big to Fail

The Federal Deposit Insurance Corporation ("FDIC") released a statement by James R. Wigand, Director, Office of Complex Financial Institutions, and Richard J. Osterman, Jr., Acting General Counsel, on "Who Is Too Big to Fail?" examining the application of Title I of the Dodd-Frank Act.This is essentially a statement of the purposes in requring large banks to develop "living wills" and the progress that the largest financial institutions have made in developing these wills. Mr. Alvarez's speech discussed the measures being taking to reduce the probability of failure by a large bank, particularly higher capital requirements, and focused significantly on liquidity requirements.

View speech in full here (links externally to FDIC website).See also: General Counsel Scott G. Alvarez's Speech.See also: Board and FDIC Provide Additional Instructions for Submission of Some Resolution Plans; FRB Proposed Rule on Assessing Big Banks for Supervision.