The Clearing House Association, along with other financial-services trade associations, submitted a comment letter to the UK’s Financial Services Authority. The letter responds to the FSA consultative paper on recovery and resolution plans, which proposes requirements for certain financial-services firms to prepare living wills that outline how the firms could be wound down when facing collapse without damaging the greater financial system and economy. The letter recommends a single-plan approach, cross-border cooperation and coordination agreements, harmonized informational elements and a cooperative, iterative process. TCH also suggests that measures to improve the resolvability of an institution be balanced against the need to manage it as a going concern.