For Immediate Release
April 13, 2016
ABA Media Contact: Jeff Sigmund
(202) 663-5439
Email: jsigmund@aba.com
Follow us on Twitter: @ABABankers

ABA Statement on Today’s Living Wills Announcement

By Rob Nichols, ABA president and CEO

​“Today’s results show that both banks and regulators continue to learn from the living wills process.  Banks have made tremendous strides in adding hundreds of billions of dollars in additional capital, improving liquidity and better managing risk since the financial crisis.  These efforts ensure the industry is well equipped to handle any economic circumstance that could arise. 
 
“While issues remain, we’re confident that they can be resolved as part of the ongoing dialogue of the supervisory process.  Each iteration brings more value for both the regulators and the institutions they supervise, and provides an important roadmap for further work that needs to be done.  We will continue to maintain an open line of communication to ensure the living wills process keeps improving for both banks and regulators. The need for additional transparency throughout this process, as recommended by a recently released GAO study, will greatly enhance the quality of these resolution plans.”
 
The American Bankers Association is the voice of the nation’s $16 trillion banking industry, which is composed of small, regional and large banks that together employ more than 2 million people, safeguard $12 trillion in deposits and extend more than $8 trillion in loans.
 
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