Bank of England spells out resolution plans
Central bank details new resolution tools
The Bank of England (BoE) today set out its approach to the resolution of failed financial institutions, lifting the lid on some of the intricacies of the process.
Writing in the foreword to the report, Jon Cunliffe, the BoE's deputy governor for financial stability, said the new plans aimed to address the areas in which the UK's resolution regime "fell short" of standards set by the Financial Stability Board.
In particular, the resolution framework used during the financial crisis lacked bail
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