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The second is about banks' resolution plans what happens if they get into trouble.
Mr. Dimon says that rather than calling the closure of such banks "resolution," it should be called "bankruptcy for big dumb banks".
The recently released public sections of the 2017 resolution plans submitted by the eight US global systemically important banks (G-SIBs 1 G-SIBs 1a unique window into the banks' resolution provideg efforts that have developed over the last five years.
The proposed banks resolution regime is supposed to help cut the invidious link between failing banks and weak sovereigns that is seen as having contributed hugely to the sovereign debt crisis in countries such as Spain and Ireland.
A two-day summit which opened on Thursday sought to build on the momentum, discussing calls for new legislation on eurozone banks' "resolution" to be drafted by next year.
The eurozone's answer is a new permanent banking union, making the ECB the single supervisor of Eurozone banks, alongside a banks resolution authority – and perhaps eventually a common Eurozone system of guarantees for depositors.
Similar(53)
Bank resolution concepts, tradeoffs, and changes in practices.
The F.D.I.C. operates state-of-the-art bank resolution processes.
We discuss the implications of this result for the design of bank resolution policies.
First and foremost, the deal provides a template for Europe's unforgivably delayed bank resolution regime.
The Bank of England has a fundamentally different approach to bank resolution than that of the F.D.I.C.
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