View more on these topics

Govt to consult on banking special resolution regime

The Chancellor of the Exchequer has launched a consultation on the ‘special resolution regime’ which is designed to reduce the impact of a failing bank.

The consultation document is published jointly by the Treasury, the FSA and the Bank of England and will build on previous consultation on financial stability and depositor protection.

Further detail on the specifics of the special resolution regime are outlined in the document along with draft clauses for key aspects of the regime which have attracted particular interest from stakeholders. Proposals raised will be subject to a further period of consultation, prior to the introduction of legislation later in the parliamentary session.

Launching the consultation document, Chancellor Alistair Darling said: “No system of regulation can or should prevent the failure of each and every firm, but we must do everything possible to reduce the impact of problems which could pose a wider threat to stability. The challenge is to ensure that the authorities can act quickly and decisively to take appropriate steps to resolve failing banks. These proposals for a special resolution regime give the authorities the full range of powers they need.”

Recommended

Artemis Global Income: favouring Europe over the US

With a 10 per cent return from his Global Income Fund in the first three months of 2015, Jacob de Tusch-Lec talks to journalist Alexis Xydias about the drivers and why he favours Europe and Asia over the US. Jacob believes European companies remain cheap and is still finding opportunities amid value stocks – in contrast […]

Newsletter

News and expert analysis straight to your inbox

Sign up

Comments

    Leave a comment

    Close

    Why register with Money Marketing ?

    Providing trusted insight for professional advisers.  Since 1985 Money Marketing has helped promote and analyse the financial adviser community in the UK and continues to be the trusted industry brand for independent insight and advice.

    News & analysis delivered directly to your inbox
    Register today to receive our range of news alerts including daily and weekly briefings

    Money Marketing Events
    Be the first to hear about our industry leading conferences, awards, roundtables and more.

    Research and insight
    Take part in and see the results of Money Marketing's flagship investigations into industry trends.

    Have your say
    Only registered users can post comments. As the voice of the adviser community, our content generates robust debate. Sign up today and make your voice heard.

    Register now

    Having problems?

    Contact us on +44 (0)20 7292 3712

    Lines are open Monday to Friday 9:00am -5.00pm

    Email: customerservices@moneymarketing.com