© Reuters. FILE PHOTO: Federal Deposit Insurance Corporation Chairman Martin J. Gruenberg looks on during a hearing at the Senate Banking, Housing and Urban Affairs Committee on “Recent Bank Failures and the Federal Regulatory Response” on Capitol Hill in Washington
(Reuters) – A coming regulatory proposal will overhaul how large, regional banks prepare living wills for the event of their own failures, U.S. Federal Deposit Insurance Corporation Chairman Martin Gruenberg said Monday.
The announcement comes as U.S. regulators continue their efforts to strengthen oversight of the banking system, particularly in light of a string of collapses in March that included some of the largest in U.S. history.
“To that end, the FDIC plans to issue a notice of proposed rulemaking in the near future that will be a comprehensive restatement of the rule for notice and comment,” Gruenberg said in prepared remarks.
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