Dodd-Frank’s “Living Will Rule” and the Impact on Financial Firms

Exclusive Interview with

Walter J. Mix III, Director, Berkeley Research Group


While the Dodd-Frank Act has had a broad impact on banking, one of the key aspects is the “Living Will Rule,” which seeks to limit the risks of “too big to fail” financial institutions in the United States.

In this exclusive LegalMinds/NASDAQ Securities & Capital Market Series interview, Walter Mix III, a former bank regulator and Director of Berkeley Research Group, discusses the rule and it’s impact on U.S. financial institutions, as well as foreign banks operating in the U.S .

“The largest banks have already started working on their living wills as of 2010,” says Mix.  “The next tier down have recently begun planning their implementation of living wills.  The timeline is for 2013 for every bank to be included.”  According to Mix, the banks are “required to show every aspect at a very, very deep level of its banking operations and to create a strategic approach to unwind the institution in the event that it faces insolvency.”

In this video interview filmed at the NASDAQ MarketSite in Times Square, he outlines the key elements of the resolution plan and details what companies are covered, filing timelines and the strategic implications of the rule.

Also, discussed is the impact of the rule on the capital markets, which he believes will be similar to the way bank M&A will be affected. “You can expect to see a highlighting of the different risk areas of an institution and this information will be made available to investors so that they’ll be able to make more intelligent decisions about their investments and about acquisitions,” says Mix.

As far as what lies ahead, he adds that “at the end of the day what we’re hoping to see is enhanced risk management at the banks, and better corporate governance at the banks.”

Read Walter Mix III Bio (Click to Expand/Collapse)

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About Berkeley Research Group

Berkeley Research Group, LLC is a leading global expert services and consulting firm that provides independent expert testimony, litigation and regulatory support, authoritative studies, strategic advice, and document and data analytics to major law firms, Fortune 500 corporations, government agencies, and regulatory bodies around the world. BRG experts and consultants combine intellectual rigor with practical, real-world experience and an in-depth understanding of industries and markets. Their expertise spans economics and finance, data analytics and statistics, and public policy in many of the major sectors of our economy including health care, finance, banking, information technology, energy, construction, and real estate.  BRG is headquartered in Emeryville, CA, with 19 offices in the United States and London, UK.

For additional information, visit:

Contact Info:

Walter J. Mix III
Berkeley Research Group, LLC
550 South Hope Street
Suite 2150
Los Angeles CA 90071

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