Mayra Rodriguez Valladares, managing principal of MRV Associates, a financial regulatory consulting and training company, said the living wills force banks to look in the mirror and face issues of excessive complexity, particularly in cross-border claims.

“Most of the time, you’re so enormous supposedly because you’re getting a tax relief, you’re getting some type of capital relief out of it, it really is helping you increase your profits. But if it isn’t achieving any of that, then why do you have all this? Why are you so big and unwieldy?” Rodriguez Valladares told SNL.