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State Street, Bank of NY Mellon submit living wills to Fed

Thursday, 4 Oct 2012 | 11:26 AM ET

WASHINGTON, Oct 4 (Reuters) - State Street Corporation

and Bank of New York Mellon Corp have submitted living wills to banking regulators, the Federal Reserve announced on Thursday.

The plans, which give regulators a map for winding down large U.S. banks, were mandated by the 2010 Dodd-Frank reform and seek to end too-big-to-fail bailouts by the government.

Nine banks had already submitted their plans, including Bank of America Corp and Citigroup Inc . Regulators said they had received the two new living wills by an Oct. 1 deadline.

(Reporting By Alexandra Alper; Editing by Gerald E. McCormick)

((Alexandra.Alper@thomsonreuters.com)(202-310-5442))

Keywords: LIVING WILLS/FED

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