Bloomberg

(Bloomberg) -- Barclays Plc, Credit Suisse Group AG, Deutsche Bank AG and UBS Group AG will be given an additional year to submit their next formal resolution plans to the Federal Reserve and Federal Deposit Insurance Corp., the U.S. regulators said in a statement Wednesday.

The one-year extension from July 1 of this year has been granted “in light of the significant restructuring these companies are undertaking to come into compliance with the Federal Reserve Board’s Intermediate Holding Company requirement,” the agencies said.

(Corrects UBS company name in the first paragraph.)

To contact the reporter on this story: Gregory Mott in Washington at gmott1@bloomberg.net. To contact the editors responsible for this story: Jesse Westbrook at jwestbrook1@bloomberg.net, Gregory Mott, Brendan Murray

©2016 Bloomberg L.P.

bloomberg

 Bloomberg