CoCo can prevent too big to fail, says FSA’s Turner
The creation of contingent capital instruments is one of the ways that regulators can reduce the possibility of large banks failing, the UK Financial Services Authority Lord Turner said in a speech on Monday.
His speech came shortly before Lloyds Banking Group announced on Wednesday that it was seeking to raise £7.5bn of contingent capital as part of an exchange offer (see separate story).
Clearly we can and must reduce the probability of failure of large systematically important banks and our key
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