New rule requires biggest banks to have break-up plansPersonal Finance News:
New rule requires biggest banks to have break-up plans
The Federal Deposit Insurance Corp. voted to require banks with $50 billion or more in assets to submit so-called living wills. Seven banks with more than $250 billion in assets will have to show their plans by July. The other 30 affected by the rule have until 2013.
The FDIC also proposed a separate rule that would require banks with more than $10 billion in assets to conduct annual stress tests.
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