Large Financial Institutions: The "Living Wills" Requirement and Economic Issues Associated With "Too Big to Fail"

by Franklin Pierce (Editor)

One of the chief objectives of the Dodd-Frank Wall Street Reform and Consumer Protection Act (DFA) is to promote financial stability within the United States, without the need for emergency governmental assistance to troubled firms. This book reviews the legal structure of the DFAs living will requirements; and examines some of the steps that these institutions might voluntarily take, which, in the view of the FRB and FDIC, would improve their resolvability, including strategic divestiture; legal reorganization; amendment of default trigger provisions of qualified financial contracts; and increasing their long-term, unsecured debt as a proportion of their assets.

179 pages, Hardcover

Published May 1, 2015

About the author

Librarian Note: There is more than one author in the GoodReads database with this name. See this thread for more information.

Franklin Pierce was an American politician and lawyer elected as the 14th President of the United States on the Democratic Party ticket, serving from 1853 to 1857. Previously, he was appointed commander and colonel of the 9th Infantry Regiment in the Mexican–American War, and was quickly promoted to brigadier general.