After the 2008 financial crisis, regulators have been demanding so-called living wills to be drawn up by some banks and financial institutions to provide a contingency plan in case they become insolvent and needs to be restructured.
The Federal Reserve and Federal Deposit Insurance Corporation provided comments to 19 banks regarding their 2015 resolution plans, which were found to not have any major issues.The regulators said in a statement that due to the limited complexity of the banks' U.S. operations, they are "tailoring their expectations" for the next round of plans, due at the end of 2018.The banks that submitted plans are Banco Bilbao Vizcaya Argentaria, S.A.