BoE director says bail-ins getting closer

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A director of the Bank of England (BoE), Andrew Gracie, on September 17 said the central bank is moving closer to an operational ‘bail-in' regime that will ensure losses are assigned to shareholders and creditors rather than public funds.

Speaking at the British Bankers' Association in London, Gracie outlined how the central bank has created a framework for implementing bail-ins with systemically important financial institutions.

The framework is part of the European Recovery and Resolution

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