Cunliffe warns of tough transition to new resolution regime
‘Multi-pronged’ strategy already starting to have an effect, BoE deputy says
The Bank of England's (BoE) Jon Cunliffe believes it is possible to have a world where large banks can fail in an "orderly way" – but it requires a "major change" in the regulatory landscape and a "difficult transition".
Cunliffe, a deputy governor at the BoE, told an audience in Brussels a world of small banks may "appear tempting", but something "important" would be lost. Instead, achieving the goal requires a "comprehensive" set of policies and powers.
"The good news is that there has been
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