Regulators met with officials from large banks Thursday to discuss the "living wills" behemoths must develop under the Dodd-Frank law. The law, which gives the Federal Deposit Insurance Corp. new resolution powers over systemically risky firms, requires banks to draft blueprints of how they would be unwound. The FDIC and the Federal Reserve Board are expected to issue joint guidelines next quarter on constructing the plans.

During a series of roundtables hosted by the FDIC on Dodd-Frank implementation, regulators and bankers discussed numerous topics, including what information the FDIC would need in a resolution, the need for cross-border coordination and how to make a living will relevant through multiple economic cycles.

The FDIC hosted a prior roundtable on its resolution authority Aug. 31.

FDIC Chairman Sheila Bair said regulators responding to the recent crisis had a "dearth of information in two key areas," including the extent of a firm's systemic reach and how to separate subsidiaries from a firm's holding company structure.

"Sometimes it's not clear where the bank ends and the holding [company] activity begins," Bair said.

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