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Living Wills… for Banks?

Chris BoakesThe banking crisis has taken an unusual turn,

Alister Darling has now suggested that banks adopt ‘living wills’ in the event that another financial crisis hits. The idea is to make it easier to dismantle them and distribute their assets between other lenders and not to give the CEO’s desk to his nephew.

As the living will title suggests, the document should also contain details as to when the ‘life support’ system is turned off, the budget should reveal the full details if the proposal gets that far. The key impact will be to introduce more transparency in the bank’s corporate structure and set out clear regulations for dissolution.

Will it work?  Time will tell.

1 Comment

  1. tampa doctor - 04/03/2010

    We lost Millions of jobs due to failed regulation. Someone is going to have to pay for those sins. Who could it be?

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