The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) have made public the sections of resolution plans, also known as living wills, for the eight largest and most complex domestic banking organizations as well as 56 foreign banking organizations. These financial institutions were required to submit their resolution plans by July 1, 2025.

Resolution plans are mandated by the Dodd-Frank Wall Street Reform and Consumer Protection Act. The purpose of these plans is to outline a bank's strategy for an orderly resolution through bankruptcy in case it faces significant financial distress or failure. Regulations require that each plan be divided into public and confidential sections. The agencies require that the public section provides a summary of certain elements of the full resolution plan in order to promote transparency.

Additionally, the FDIC has released public sections from separate resolution plans for 12 large insured depository institutions (IDIs). These IDI plans are required under the FDIC's IDI Rule and were also due on July 1, 2025. The goal of these plans is to allow the FDIC to resolve an IDI efficiently under the Federal Deposit Insurance Act if it fails.

"The Federal Reserve Board and the Federal Deposit Insurance Corporation (FDIC) today released the public sections of resolution plans for the eight largest and most complex domestic banking organizations and 56 foreign banking organizations. These banks were required to submit resolution plans by July 1, 2025."

"Resolution plans, commonly known as living wills, are required by the Dodd-Frank Wall Street Reform and Consumer Protection Act. These plans describe a banking organization's strategy for orderly resolution under bankruptcy in the event of material financial distress or failure. By regulation, resolution plans must be divided into public and confidential sections. To foster transparency, the agencies have required each banking organization's public section to summarize certain elements of the resolution plan."

"In addition, the FDIC released public sections of the separate resolution plans of 12 large insured depository institutions (IDIs), which are required under the FDIC's IDI Rule. These IDI resolution plans, which were also required to be submitted by July 1, 2025, are designed to enable the FDIC to efficiently resolve an IDI under the Federal Deposit Insurance Act in the event of its failure."