BoE finds ‘shortcomings’ in three UK banks’ resolution plans
But central bank’s first resolvability assessment concludes banks can now fail “safely”
The Bank of England found “shortcomings” in the resolution plans of three major UK banks, as it published the findings of its resolution assessment framework for the first time.
HSBC, Lloyds Banking Group and Standard Chartered all had problems with their resolution plans that could “impede” efforts to resolve them, the BoE said today (June 10).
The assessment framework is designed to ensure banks have the right resources, operating procedures and lines of communication to continue functioning
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