Mark Carney, chair of the Financial Stability Board (FSB), today hailed a new agreement on resolution stays as an "important step" towards ending the problem of too-big-to-fail banks.
The protocol, developed by the International Swaps and Derivatives Association (Isda), was signed by 18 global banks, which have agreed to adopt the requirements in time for the Brisbane G-20 summit in November.
Many derivatives transactions permit counterparties to liquidate, terminate or accelerate the contract i
- Treasury committee to investigate BoE’s lack of diversity
- Canada’s Project Jasper to explore clearing of securities in third phase
- Bank of Portugal sells majority share in ‘good bank’
- Fed’s Powell: banks still have important role in payments
- Xi sees renminbi taking greater role in global monetary system