UK must improve bank workouts

The UK government needs to update its approach to resolving failed investment banks in the wake of the collapse of Lehman Brothers in September last year, according to a Treasury report published in May.

Although the Treasury denied "misconceived" reports that the US insolvency system had responded better than the UK system to Lehman's collapse, it pointed out the UK could still benefit from change.

The report focuses on possible changes in three areas: resolving trading, clearing and settlement

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