In the event of a catastrophic market meltdown or a plain-old company collapse, Wall Street's titans say they are prepared and won't need to turn to taxpayers for help.
On Thursday, the Federal Reserve and Federal Deposit Insurance Corp. released portions of the so-called "living wills" of the country's 11 largest banks, including Bank of America and JPMorgan Chase.
Each bank offered a blueprint to wind down their operations in times of crisis without unraveling the rest of the economy. The plans are an updated version of the wills the banks submitted in 2012 after regulators requested more details on strategies for dissolving trading businesses and managing liquidity.