Federal regulators say that five of the biggest banks in the U.S. have inadequate plans for unwinding operations in case of failure, potentially leaving them unable to cope with financial distress without another taxpayer bailout.

JPMorgan Chase, Bank of America, Wells Fargo, Bank of New York Mellon and State Street were cited Wednesday by the Federal Reserve and the Federal Deposit Insurance Corp. for gaps in their bankruptcy plans known as “living wills” that they were required to submit. The five banks were among eight Wall Street behemoths whose plans were evaluated.

The two agencies found the five banks’ plans are “not credible” or insufficient for an orderly restructuring in bankruptcy. The regulators gave the banks an Oct. 1 deadline to fix the problems or face possible “more stringent” requirements.

(AP)