Article source
Financial Times
Article date
Sun, Jan 27, 2013
US regulators have warned banks not to assume that countries will work together to avoid the catastrophic failure of a financial group. The alert to the world’s biggest international financial institutions followed growing concerns about the progress of global regulatory reform efforts.
The guidance to banks preparing “living wills” to ensure a more orderly wind-down in a future Lehman Brothers scenario came as the Financial Stability Board, a group of central bankers and regulators, prepares to meet on Monday to discuss the resolution regime.