An idea worth exploring is to require firms to develop and maintain a so-called living will, which will help firms and regulators identify ways to simplify and untangle the firm before a crisis occurs.
1  1  See Daniel K. Tarullo (2009), “Supervising and Resolving Large Financial Institutions,” speech delivered at the Institute of International Bankers Conference on Cross-Border Insolvency Issues, New York, N.Y., November 10. BIS Review 34/2010  3  The Federal Reserve and community banks The Federal Reserve and community banks have much in common beyond our mutual concerns about the too-big-to-fail problem.