Whitepaper by Davis Polk & Wardwell LLP and McKinsey & Company
We are pleased to announce the publication of a Davis Polk and McKinsey & Co. co-authored whitepaper, Credible Living Wills: The First Generation. This unique collaboration combines a legal and consulting/risk management point of view about resolution and recovery planning.
If defined and implemented properly, living wills have the potential to be a highly effective tool for improving risk management, reducing systemic risk and mitigating the too big to fail and too big to save problems. However, there are also drawbacks and risks that need to be carefully considered. Getting living wills right is a high-stakes problem for supervisors and regulated institutions.