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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
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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

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