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Breaking News |
| US and UK unveil failing banks plan |
|
US and UK regulators will unveil the first cross-border plans to deal
with failing global banks on Monday, outlining proposals to force
shareholders and creditors on both sides of the Atlantic to take losses
and to ensure sufficient capital exists in the banks’ headquarters to
protect taxpayers. Writing in the Financial Times, Martin Gruenberg, chairman of the US Federal Deposit Insurance Corporation, and Paul Tucker, deputy governor of the Bank of England, say this represents the first concrete steps to end the “too big to fail” problem of large international banks. http://link.ft.com/r/FG6LAA/ |
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