Wealth Manager - the site for professional investment managers

Register to get unlimited access to all of Citywire’s Fund Manager database. Registration is free and only takes a minute.

US and UK strike cross-border deal on 'too big to fail' banks

US and UK strike cross-border deal on 'too big to fail' banks

The US and UK will today strike a plan on how to tackle lenders deemed 'too big to fail'.

The Bank of England and Federal Deposit Insurance Corporation have compiled a paper which for the first time outlines a cross-border strategy on how to deal with failing banks.

The document will be released today, according to reports, and will detail how taxpayers will avoid the burden of future bank bailouts.

It also sets out a top down plan of how a failing institution will be arranged in order to protect the rest of the system.

Moreover, the document says that if the state incurs losses because of a failing bank it will be able to claw these back from the rest of the financial sector.

Leave a comment!

Please sign in or register to comment. It is free to register and only takes a minute or two.
Citywire TV
Play JP Morgan AM's Conte: why France is my biggest overweight

JP Morgan AM's Conte: why France is my biggest overweight

The European Smaller Companies trust fund manager is also finding opportunities within the European IPO market.

Brewin's Foster: running out of value with Sandy Nairn

Brewin's Foster: running out of value with Sandy Nairn

In this week's podcast, Guy Foster and Dr Sandy Nairn discuss caution towards the stretched valuations most stock markets today currently offer.

Play Colin McLean eyes disruptive potential

Colin McLean eyes disruptive potential

SVM's Citywire AA-rated manager says he is finding more opportunities within mid cap space.

Your Business: Cover Star Club

Profile: BRI plots growth via orphaned clients

Profile: BRI plots growth via orphaned clients

BRI Wealth Management hopes to capitalise on larger rivals’ inability to service smaller clients in the face of margin & regulatory pressure

Wealth Manager on Twitter