BoE, FDIC will bolster cooperation on distressed banks

01/25/2010 | Wall Street Journal, The

Bank of England Governor Mervyn King and Federal Deposit Insurance Corp. Chairwoman Sheila Bair signed an agreement that the regulators will increase cooperation when dealing with banks that have operations in the U.K. and the U.S. "The recent financial crisis demonstrates that greater international coordination among resolution authorities as well as resolution processes capable of resolving the largest, most complex financial institutions are necessary to protect the public," Bair said.

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