Living will: Difference between revisions
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* [[Recovery plan]] | * [[Recovery plan]] | ||
* [[Resolution]] | * [[Resolution]] | ||
* [[Resolution plan]] | |||
[[Category:Compliance_and_audit]] | [[Category:Compliance_and_audit]] | ||
Revision as of 10:06, 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.
