WASHINGTON — 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.

Still, Yellen acknowledged that although regulators may accept such plans, it does not necessarily mean a bank could be effectively unwound in the event of a crisis.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.