AFME and ISDA lay into Liikanen’s bail-in proposals

The Association for Financial Markets in Europe (AFME) and International Swaps and Derivatives Association (ISDA) have criticised bail-in proposals put forward by a high level expert group on banking led by Finland’s central bank governor, Erkki Liikanen. The group’s suggestions risk undermining bail-in’s objective to break implicit sovereign guarantees of banks, they said.