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Author: Timothy Bourgaize Murray
Source: Sell-Side Technology | 06 Feb 2013
Categories: Risk Management
Topics: TechCapital Markets Company (Capco)Dodd-Frank Wall Street Reform Act
Known officially as resolution plans, living wills for financial institutions are mandated by Dodd-Frank to provide rapid and orderly deconstruction of institutions in event of distress or bankruptcy.
Capco's new Resolution Planning Business Optimization Services will provide a platform to reduce complexity and costs around the new regulatory change, identify "affiliate interdependencies" that are relevant to the process, as well as manage capital reserve demands.
Nine major banks offered a first look at their living wills last year after definitional controversy over what qualifies an institution as "too big to fail" post-crisis, and the potential ramifications for firms spinning off certain businesses as a result.
"With financial institutions under significant pressure to establish or strengthen their living wills, there is a great opportunity to use the requirement to affect significant operational, organizational and financial improvements," says Joe Anastasio, founding partner at Capco.
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