New rules designed to prevent taxpayers having to rescue - TopicsExpress



          

New rules designed to prevent taxpayers having to rescue struggling banks could see the Bank of England given the power to fire bosses and replace them with outside executives in the event of an institution’s collapse. Threadneedle Street would be able to intervene to take over a failing bank over a 48-hour period and decide how to best protect customers. Instead of a Government bail-out, long-term bondholders would exchange debt for equity in the bank.
Posted on: Fri, 24 Oct 2014 06:30:32 +0000

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