UK banks will have to publish 'living wills' to ensure 'orderly failure'

Bank of England moves to prevent repeat of lenders going bust during financial crisisBritain’s largest lenders will have to publicly disclose whether they can afford to foot the bill for their own failures and wind down in an “orderly” way, as part of the Bank of England’s latest efforts to avoid a repeat of crisis-era bailouts.The public assessments of so-called living wills is part of the central bank’s efforts to ensure lenders can fail safely, without needing government cash or causing major disruption across financial markets, by 2022. Continue reading…
Via: UK banks will have to publish 'living wills' to ensure 'orderly failure'