U.S. regulators given new powers to dismantle “too-big-to-fail” financial firms are still working to draw up so-called living wills — a central component of the toolkit needed to prevent future bailouts.

While the Federal Deposit Insurance Corp. gained the authority in the Dodd-Frank Act to seize and unwind systemically important firms, the agency is still pushing to finalize the living wills that outline how to dismantle the firms if they fail.

Read the full story at Bloomberg