GFMA voices concerns about UK top-down bank-seizure plans

12/11/2012 | Reuters

GFMA warned of shortcomings in UK plans for top-down seizure of global financial institutions in trouble. When a holding company doesn't have enough capital, resolution through a single point of entry might be inappropriate, GFMA CEO Simon Lewis says. "Resolution strategies therefore need to be tailored to the circumstances of each institution and the development of firm-specific cross-border cooperation agreements will be a key component to achieve this," Lewis said.

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