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 Sam Vecht: the best opportunities in frontier markets

Sam Vecht: the best opportunities in frontier markets

Blackrock's Vecht evaluates frontier markets and explains where he sees the opportunities

Play Where A-rated Pattullo is finding the best bond opportunities

Where A-rated Pattullo is finding the best bond opportunities

Henderson Global Investors head of retail fixed income explains how he is managing his fund against the surprise current monetary policy divergence.

1 Comment Play Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Taxicab Tenner: Allianz Global Investors' AA-rated Simon Gergel

Our much anticpated new series is here! We hand a black cab driver a tenner and grill the manager of the 125-year Merchants trust until the meter runs out.    

Your Business: Cover Star Club

Profile: meet the man building Towry into an £11bn giant

Profile: meet the man building Towry into an £11bn giant

As a former engineer who worked on Hong Kong International Airport, Rob Devey is not afraid of taking on major projects

Wealth Manager on Twitter