U.S. banking regulators are providing additional guidance to both banks and a handful of other major financial firms on the so-called “living wills” that they must file by the end of the year.

The U.S. Federal Reserve Board and the U.S. Federal Deposit Insurance Corp. (FDIC) provided guidance on Tuesday to 119 banks that will be filing updated resolution plans in December. The plans must set out each company’s strategy for rapid and orderly resolution under U.S. bankruptcy law if they run into material financial distress, or even failure.

The Fed and the FDIC also provided feedback to three non-bank financial companies — AIG Inc., Prudential Financial Inc., and GE Capital Corp. — regarding their initial resolution plans and guidance to the firms for their upcoming filings. The three firms filed initial resolution plans in July 2014.

For the banks, the agencies are providing each firm with guidance, clarification, and direction for their resolution plans based on the relative size and scope of each firm’s U.S. operations. The requirements for these plans are tiered, with less complex firms filing more streamlined plans; and, more complex firms filing either full or tailored resolution plans that take into account guidance from the agencies.

The regulators also released an updated tailored resolution plan template, which focuses on the non-banking operations of firms, and the interconnections and interdependencies between the non-banking and banking operations. The optional template is intended to facilitate the preparation of tailored resolution plans.

For AIG, Prudential and GECC, the guidance includes both specific feedback based on each company’s unique business, structure, and operations, and certain common areas that all of the firms should address. “Those areas include the need for more detailed information on, and analysis of, obstacles to resolvability, including global cooperation, interconnectedness, and adequate funding and liquidity,” the regulators say in a joint news release. The agencies also directed the three firms to strengthen the public portions of the firms’ upcoming resolution plans.