Global regulators are on the brink of a victory against “too big to fail,” as giant banks prepare to change how they handle their obligations with faltering trading partners in a bid to bolster the financial system.

Chief executives of 18 large US, European and Japanese banks are expected to agree at a meeting at the Federal Reserve in Washington Saturday to wait up to 48 hours before seeking to terminate derivatives and collect associated payments from a troubled financial institution, said people familiar with the banks.