Living will: Difference between revisions
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imported>Doug Williamson (Expand. Source: PRA: http://www.bankofengland.co.uk/pra/Documents/publications/ps/2015/ps115.pdf) |
imported>Doug Williamson (Expand.) |
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A contingency plan of how a significant financial institution could be wound up in an orderly manner in the event of a collapse. | A contingency plan of how a significant financial institution could be wound up by its supervisor in an orderly manner in the event of a collapse. | ||
A requirement of the US Dodd-Frank financial reform law applied to financial institutions with total consolidated assets of $50 billion or more | A requirement of the US Dodd-Frank financial reform law applied to financial institutions with total consolidated assets of $50 billion or more | ||
Revision as of 09:44, 21 September 2016
1.
A contingency plan of how a significant financial institution could be wound up by its supervisor in an orderly manner in the event of a collapse.
A requirement of the US Dodd-Frank financial reform law applied to financial institutions with total consolidated assets of $50 billion or more and non-bank financial companies supervised by the Federal Reserve.
Similar requirements apply in other jurisdictions, in relation to institutions considered to be significant.
Also known as a Resolution plan.
2.
A set of instructions which specifies what actions are to be taken if an individual becomes unable to act personally due to illness or incapacity.
Also known as an advance decision.
