Banks’ ‘Living Wills’ Are Murky Guides
To take one example, a major part of JPMorgan is identified as a British corporation that is a subsidiary of the United States depository bank, which itself is then a subsidiary of JPMorgan. All depend on an Indian company for daily operations.
Clearly, the process of simplifying corporate structures still has some way to go. But some additional thinking needs to go into the resolution process.