"Living wills" for 5 out of 8 big banks fail U.S. regulators' test

Five out of eight of the country's biggest banks do not have credible plans for winding down operations during a crisis without the help of public money, federal regulators said on Wednesday. The "living wills" that the Federal Reserve and Federal Deposit Insurance Corporation jointly agreed were not credible came from Bank of America (Swiss: BAC.SW - news) , Bank of New York Mellon , J.P. Morgan Chase, State Street, Wells Fargo. The requirement for a living will was part of the Dodd-Frank Wall