Time is running out for rule-makers. The Group of 20 will convene in Seoul on November 11–12 and expects to sign pledges that should force banks to hold better-quality capital – and more of it. Politicians also want to see concrete proposals on bank recovery and resolution plans, or living wills, as part of a global effort to consign bank bail-outs by taxpayers to the history books.
“Living wills are a very important component of the effort to solve the too-big-to-fail question. We would like to