Don’t leave Europe in charge of bail-in, UK told
The UK’s Banking Standards Commission has criticised the government for relying on European policymakers to implement legislation to force losses on the bondholders of failing banks, as well as calling for a higher leverage ratio than the one proposed as part of Basel III.
Bail-in legislation will give a banks regulator the power to intervene when the bank is failing, forcing losses on subordinated and senior bondholders in order to avoid taxpayer-funded bailouts.
The European Commission made its first legislative proposals for bail-in in June 2012, as part of the
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