BoE's Tucker sets out priorities for orderly cross-border resolutions
Paul Tucker examines the many issues facing authorities seeking to wind down failed banks without taxpayer support, including cross-border co-operation and choice of single or multiple entry points
The biggest problem in the international financial system - ending ‘too big to fail' - can only be solved using a combination of 'bail-in', effective planning and cross-border co-operation, according to Paul Tucker, deputy governor for financial stability at the Bank of England (BoE).
Tucker has long been a proponent of bail-in to ensure a bank's creditors bear the cost of a bank's failure. Under
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