Standards designed to establish sufficient loss absorption at banks under resolution will help improve co-operation between supervisors in different jurisdictions and maintain the core functions of banks, the Bank of England's executive director for resolution, Andrew Gracie, said on July 23.

In a speech at a conference of the British Bankers' Association, Gracie clarified the distinctions between total loss-absorbing capacity (TLAC) and minimum requirement of own funds and eligible liabilities