7/7/2015 Today I came across an article titled “Banks face pressure to improve living wills”. “What does living will for a bank mean?” I was puzzled. I did some research in the internet. A living will for a person is in fact a legal document that set out his wishes, including medical care to receive or any special wants, in the event that the person is incapable of communicating his wishes. Whereas a living will for banks is a detailed plan that is laid out by the individual bank to stipulate how it is going to cope in the crisis. This plan enables it to raise funds in a crisis and spells out how its operations can be dismantled after a collapse. After the collapse of Lehman Brothers investment bank in 2008, there was a rude awakening that stringent corporate governance on financial institutions is of utmost importance to ensure the stability and continuity of the society. Given the complexity in today’s economic condition, governments require banks to demonstrate that they are able to cope adequately in the crisis without some form of government support. However, there is another question arises, how these hypothetical plans help them to embrace the future unknown uncertainty, in this fast-paced and evolving world.