Bair calls for secured creditors to bear pain of bank failures
Sheila Bair, head of the Federal Deposit Insurance Corp, this week suggested that secured creditors should receive an automatic haircut when a bank collapses, the most radical extension yet of the concept of burden sharing. With the FDIC considering how to respond to the end of sale treatment for most securitisations, EuroWeek explores the implications for the securitisation market.
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