(Dec 19) -- None of the eight biggest U.S. banks - including Bank of America Corp., Goldman Sachs Group Inc. and JPMorgan Chase & Co. - had "deficiencies" in their latest resolution plans, the Federal Reserve and the Federal Deposit Insurance Corp. said in a statement. Some highlights:
- No specific shortcomings were identified in living wills submitted by Bank of New York Mellon Corp., Citigroup Inc., JPMorgan and State Street Corp.
- However, Bank of America, Goldman Sachs, Morgan Stanley and Wells Fargo & Co. did have "shortcomings" in their living wills, which are less-severe weaknesses that require additional work in their next plans.
- All eight biggest U.S. banks must submit their next resolution plans by July 1, 2019.