Revised 'Living Wills' Released for Five Big U.S. Banks

WASHINGTON�U.S. regulators on Tuesday made public new plans submitted by five of the biggest U.S. banks explaining how they could wind down their operations in a period of extreme distress without requiring a taxpayer bailout.

The government required the plans, called "living wills," be submitted after declaring in April that earlier versions submitted by the institutions�including J.P. Morgan Chase & Co. and Wells Fargo & Co.�weren't sufficiently credible.