Regional banks get passing grade on their 'living wills'

A group of 16 regional banks received passing grades from regulators Friday on their “living wills” that spell out how they would fail without causing panic, providing a boost for those firms amid their push to win regulatory relief.

The Federal Reserve and Federal Deposit Insurance Corporation announced that the living wills would work and that the banks could go through bankruptcy, or at least there are no major reasons to think otherwise.