WASHINGTON, April 24 Wells Fargo & Co has presented the Federal Reserve with a satisfactory plan on how to unwind its business in case of bankruptcy, the U.S. central bank said on Monday.
The resolution plan, or "living will", is required of the nation's largest banks and is meant to help prevent a future financial crisis.
In December, the Fed and Federal Deposit Insurance Corporation notified Wells Fargo that the bank's plan fell short. In its Monday announcement, the regulators said Wells Fargo has "adequately remedied the deficiencies." (Reporting By Patrick Rucker; Editing by Meredith Mazzilli)
UPDATE 1-UK Stocks-Factors to watch on June 29
June 29 Britain's FTSE 100 index is seen opening up 37 points at 7,424 on Thursday, according to financial bookmakers, with futures up 0.52 percent ahead of the cash market open.
AstraZeneca, Chi-Med take kidney cancer drug into final testing
LONDON, June 29 AstraZeneca and Hutchison China MediTech said on Thursday they had initiated a global late-stage clinical trial of the experimental drug savolitinib in a relatively rare type of kidney cancer.