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MNI BRIEF: No UK Bank Now 'Too Big To Fail', BOE Says

(MNI) London
(MNI) London

The Bank of England claims no UK banks now too big to fail under its current resolution regime.

True

No UK bank is now 'too big to fail,' with all of them able to keep running core businesses in the event of financial distress without the state bailing them out, the Bank of England said Friday in its first public assessment.

Since the state rescue of key banks in 2008, the BOE has been working on the 'too big to fail' problem and its resolution regime tests found that there would be no 'deficiencies' or 'substantial impediments' to resolution, with shareholders and investors taking the financial hit and banks still able to support the economy.

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No UK bank is now 'too big to fail,' with all of them able to keep running core businesses in the event of financial distress without the state bailing them out, the Bank of England said Friday in its first public assessment.

Since the state rescue of key banks in 2008, the BOE has been working on the 'too big to fail' problem and its resolution regime tests found that there would be no 'deficiencies' or 'substantial impediments' to resolution, with shareholders and investors taking the financial hit and banks still able to support the economy.

Keep reading...Show less