US regulators directed five of the country's biggest banks,
including Bank of America Corp and Goldman Sachs Group Inc, to develop plans
for staving off collapse if they faced serious problems, emphasizing that the
banks could not count on government help, Reuters told the NY Post
The two-year-old program, which has been largely secret
until now, is in addition to the "living wills" the banks crafted to
help regulators dismantle them if they actually do fail. It shows how hard
regulators are working to ensure that banks have plans for worst-case scenarios
and can act rationally in times of distress.
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