Image: Bloomberg News
"My understanding of the process is this is a difficult, new responsibility for the banking organizations and for us," said Fed Chair Janet Yellen, speaking of large bank resolution plans known as "living wills."

Yellen Challenged by Lawmakers on Credibility of Living Wills

Federal Reserve Board Chair Janet Yellen on Wednesday defended the credibility of living will plans submitted by the country's largest banks, saying it was a complex but useful process.

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