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"Big banks have not demonstrated that they are capable of failing without a bailout from the government, a group of federal government researchers said Wednesday, backing up regulators' decision this spring to reject the living wills of five megabanks. The Office of Financial Research, a new agency within the Treasury, released an analysis concluding that the eight U.S. banks identified as globally systemic also have not demonstrated that they are becoming less complex and interconnected. The analysis concerns the public parts of the living wills submitted by the banks to regulators. The living wills are required documents spelling out in advance how the banks would plan to go bankrupt in a failure without needing a bailout or sparking a financial crisis. In April, however, banking regulators warned most of the banks that the plans were not credible, a gesture interpreted by critics to mean that the banks remain too big to fail even after the 2010 financial reform law.", www.washingtonexaminer.com
"WASHINGTON - There is not enough information in the public section of the 'living wills' major banks file with U.S. regulators to fully explain how the organizations could undergo bankruptcy without taxpayer aid, the country's financial monitor said on Wednesday. Even with the limited information, the Office of Financial Research found that banks 'remain complex organizations,' which it said confirms the 'recent rejection and criticism by regulators of living will submissions.'", www.todayonline.com
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