Banks have wills too, and apparently they could be better at writing them.

From Marketplace, I'm so rebenisher in for David Bronkotchew.

Seems like forever ago, but you remember the whole mini banking crisis from earlier this

year when Silicon Valley and several regional banks failed?

Well new rules are a common, with those failures in mind, the head of the FDIC says the

agency wants to make regional banks change their emergency plans for what happens if they

fail.

Known in the banking world as living wills, Marketplace's Nancy Marshall-Genzer has more.

FDIC chairman Martin Groenberg says the agency will propose rules requiring all large

regional banks to submit more comprehensive living wills. They would include information

on how quickly a bank could set up a data room for potential buyers. Groenberg says they'd

have to include information buyers could use to bid on the bank or some of its assets or operations.

The rule would also require information to help whoever takes over the bank,

like a list of key employees and data on payments and trading.

And the living wills would need to include ways to reach key stakeholders in the bank.

The proposal could also require these banks to take on long-term debt.

Groenberg says that would make them more stable and create more options like breaking up a bank

and selling its pieces. In short, Groenberg says banks would have to wind themselves down in a way

that, quote, is not dependent on an over-the-week end sale. I'm Nancy Marshall-Genzer,

for Marketplace. A whole new generation of potential investors has come of age since the

beginning of the pandemic. And the pandemic was a unique time to do anything, let alone enter

the world of investing. Marketplace's Kristen Schwab has more on that.

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