The United States Federal Reserve Board and the Federal Deposit Insurance Corporation published feedback letters on July 2025 resolution plans, or living wills, for eight large domestic banking organizations and 56 foreign banking organizations. Their joint review found no shortcomings or deficiencies in any of the submissions. The agencies also concluded that the derivatives-related weaknesses identified in the 2023 plans of Bank of America, Goldman Sachs, JPMorgan Chase, and Citigroup have been satisfactorily addressed. The published materials include firm-specific feedback letters for the eight domestic filers and HSBC North America Holdings, Inc., along with template letters for foreign banking organizations, including first-time filers that submitted plans on or before July 1, 2025.
Federal Reserve Board2026-05-22
United States Federal Reserve Board and Federal Deposit Insurance Corporation publish 2025 resolution plan feedback with no shortcomings or deficiencies identified
The United States Federal Reserve Board and the Federal Deposit Insurance Corporation published feedback on July 2025 resolution plans for eight large domestic banking organizations and 56 foreign banking organizations, finding no shortcomings or deficiencies. The agencies determined that derivatives-related weaknesses previously identified in the 2023 plans of Bank of America, Goldman Sachs, JPMorgan Chase, and Citigroup have been satisfactorily addressed and released firm-specific feedback for the eight domestic filers and HSBC North America Holdings, Inc., as well as template letters for foreign banking organizations.