Living will: Difference between revisions
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1. A contingency plan of how a financial institution could be wound up in the event of a collapse. | 1. | ||
A contingency plan of how a financial institution could be wound up in the event of a collapse. | |||
A requirement of the US Dodd-Frank financial reform law for financial institutions with more than $250 billion in assets. | A requirement of the US Dodd-Frank financial reform law for financial institutions with more than $250 billion in assets. | ||
2. More generally, a set of instructions which specifies what actions are to be taken if a person is unable to do so due to illness or incapacity. | 2. | ||
More generally, a set of instructions which specifies what actions are to be taken if a person is unable to do so due to illness or incapacity. | |||
Also known as an advance decision. | ''Also known as an advance decision.'' | ||
Revision as of 11:08, 22 August 2013
1.
A contingency plan of how a financial institution could be wound up in the event of a collapse.
A requirement of the US Dodd-Frank financial reform law for financial institutions with more than $250 billion in assets.
2.
More generally, a set of instructions which specifies what actions are to be taken if a person is unable to do so due to illness or incapacity.
Also known as an advance decision.
