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US regional banks that will soon lack 'living wills' are more likely to infect other firms, FDIC’s Gruenberg says

By Neil Roland ( October 21, 2019, 20:44 GMT | Insight) -- Regional US banks that no longer have to file “living wills” under federal rules adopted this month are now more likely to contaminate similar firms in a crisis, said Martin Gruenberg, a US Federal Deposit Insurance Corporation  member. Gruenberg, the sole Democrat at the FDIC, and Paul Tucker, a former Bank of England deputy governor, said banks with assets of $100 billion to $250 billion that collapse may not be readily acquired by another bank. “I worry a little bit that we’ve lulled people into a false sense of security,” Gruenberg said,Regional US banks that no longer have to file “living wills” under federal rules adopted this month are now more likely to contaminate similar firms in a crisis, said Martin Gruenberg, a US Federal Deposit Insurance Corp. member....

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