The Federal Deposit Insurance Corporation and the Federal Reserve Board today published feedback letters for several resolution plans submitted in July 2025.
Resolution plans, also known as living wills, must describe a banking organization's strategy for orderly resolution in the event of material financial distress or failure. The agencies conducted a joint review of the 2025 resolution plan submissions from the eight largest and most complex domestic banking organizations as well as from 56 foreign banking organizations. The agencies did not identify any shortcomings or deficiencies in these resolution plan submissions.
The agencies also determined that each derivatives-related weakness identified in the 2023 plans from Bank of America, Goldman Sachs, JPMorgan Chase, and Citigroup has been satisfactorily addressed.
Bank of America Corporation 2025 Resolution Plan Feedback Letter (PDF)
Bank of New York Mellon Corporation 2025 Resolution Plan Feedback Letter (PDF)
Citigroup Inc. 2025 Resolution Plan Feedback Letter (PDF)
The Goldman Sachs Group 2025 Resolution Plan Feedback Letter (PDF)
JPMorgan Chase & Co. 2025 Resolution Plan Feedback Letter (PDF)
Morgan Stanley 2025 Resolution Plan Feedback Letter (PDF)
State Street Corporation 2025 Resolution Plan Feedback Letter (PDF)
Wells Fargo & Company 2025 Resolution Plan Feedback Letter (PDF)
HSBC North America Holdings, Inc. 2025 Resolution Plan Feedback Letter (PDF)