FOR IMMEDIATE RELEASE: July 1, 2015
CONTACT: Laena Fallon, (202) 457-8783
WASHINGTON, D.C. – Forum President and CEO Rob Nichols issued the following statement regarding the financial sector’s latest round of resolution plan submissions to the Federal Reserve and FDIC:
“The financial services industry is committed to effective resolution and recovery planning through the living wills process. The firms have taken meaningful, concrete steps to ensure their plans are credible and that no firm is too big to fail. The living wills process builds on the many improvements that have made the U.S. financial system stronger, safer and more simple, including the doubling of capital and liquidity, and structural changes to reduce risk and streamline business models.”
The Financial Services Forum is a non-partisan financial and economic policy organization comprising the CEOs of 18 of the largest and most diversified financial services institutions doing business in the United States. The purpose of the Forum is to pursue policies that encourage savings and investment, promote an open and competitive global marketplace, and ensure the opportunity of people everywhere to participate fully and productively in the 21st-century global economy.