On February 18, the Systemic Risk Council (SRC) called on federal regulators to simplify complex financial institutions and mandate greater public disclosure of progress in reducing their systemic imprint.

The SRC specifically called on the Federal Reserve and FDIC to annually disclose their joint determination, required by Dodd-Frank, as to whether these firms have submitted “credible” living wills demonstrating their ability to fail in bankruptcy without systemic disruption.

Read the full letter below:

SRC Comment Letter to FDIC re: SPOE 2-18-14