"Living Wills" for Banks Sound Good, But Would They Work?
Here’s our latest article in the Harvard Business Review.
Paul Tucker, Deputy Governor of the Bank of England, and the person leading the Financial Stability Board’s recovery and resolution work programme, believes that banks have “nowhere to hide” in the post-crisis era and must face navigate stress in the future without relying on Government support. Living wills or recovery and resolution plans are the favored mentioned to codifying this process.
In a recovery plan, the firm uses a series of predefined recovery options to recover in the face of a range of negative financial shocks; a resolution plan, in contrast, shows how the firm intends to wind down in an orderly manner that reduces the impact on financial stability and minimises the need for Government support.
Read the rest at “Living Wills” for Banks Sound Good, But Would They Work? – Vincent O’Sullivan and Stephen Kinsella – Harvard Business Review.
2012-09-14 14:01:17
Source: http://www.stephenkinsella.net/2012/09/14/living-wills-for-banks-sound-good-but-would-they-work/
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