"Living Wills" for Banks?

Posted on October 28, 2009 by Stacey Szulka

On October 22, the FSA said banks operating in the U.K. will be required to produce “living wills” to provide a blueprint on how to wind them down in the event of financial difficulty. If the plans show it would be difficult to do so, then banks must take steps to remove the obstacles, including measures such as the separation of retail banking from proprietary trading operations.

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