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Biggest US banks would ditch securities arms in bankruptcy

They say they are smoothing the way for orderly resolution by reorganising relations between core units

JPMorgan Chase & Co says the bank's living will would resolve the firm quickly and without systemic disruption or taxpayer support.


BIG US banks said they would chop off Wall Street arms and non-essential units if the companies were to fail, with JPMorgan Chase & Co slashing its broker-dealer operations by as much as two thirds.

Twelve banks granted the public a clearer look at their living wills...

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