It is "not credible" to think that global systemically important banks (G-Sibs) could be dismantled over a weekend without a destabilising disruption to critical functions, Andrew Gracie, the Bank of England's executive director for resolution said during a recent speech in Brussels that was published yesterday.

"The reality of a G-Sib is that its activities cannot be shut down immediately and it will need to be adequately recapitalised to sustain its critical functions," Gracie said, adding