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Advanced Search About the Fed News & Events Monetary Policy Supervision & Regulation Payment Systems Economic Research Data Consumers & Communities Board of Governors of the Federal Reserve System The Federal Reserve, the central bank of the United States, provides the nation with a safe, flexible, and stable monetary and financial system. Home > News & Events > Press Releases Press Release January 24, 2014 Federal Reserve Board provides additional information on expectations for recovery and resolution preparedness of certain large domestic bank holding companies For immediate release Share The Federal Reserve Board on Friday provided additional information on its expectations for the recovery and resolution preparedness of certain large domestic bank holding companies. Recovery and resolution preparedness aims to reduce the effect of a firm's failure or material weakness on the financial system and the broader economy. The supervisory guidance discusses the importance of having robust systems to manage collateral, information, and payments, clearing, and settlement activities. It also stresses the importance of adequate liquidity and funding arrangements during times of stress. The expectations will be incorporated into the Federal Reserve's ongoing supervisory assessments of recovery and resolution preparedness at large bank holding companies subject to the guidance. The supervisory guidance is applicable to eight domestic bank holding companies--Bank of America Corporation; Bank of New York Mellon Corporation, PLC; Citigroup Inc.; Goldman Sachs Group, Inc.; JPMorgan Chase & Co.; Morgan Stanley; State Street Corporation; and Wells Fargo & Company. For media inquiries, call 202-452-2955. SR letter 14-1 Last Update: January 24, 2014 BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM About the Fed News & Events Monetary Policy Supervision & Regulation Payment Systems Economic Research Data Consumers & Communities Financial Stability TOOLS AND INFORMATION STAY CONNECTED Contact Publications Freedom of Information (FOIA) Office of Inspector General Budget & Performance | Audit No FEAR Act Español Website Policies | Privacy Program Accessibility BOARD OF GOVERNORS of the FEDERAL RESERVE SYSTEM 20th Street and Constitution Avenue N.W., Washington, DC 20551