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US banks rewrite contracts to shed too-big-to-fail image

Changes likely to allow some securities, funding deals to remain intact for as long as 48 hours after a bank fails
Wednesday, November 11, 2015 - 05:50
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Trading and lending agreements of Wall Street's big banks being reworked are part of the grease that makes the global financial system function.

Washington

WALL Street is poised to expand a rewrite of financial contracts worth trillions of dollars in an effort to persuade regulators that giant banks can be wound down without hurting the broader economy.

The trading and lending agreements being reworked are part of the