IIF report states need for bank 'bail-ins'

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Financial firms should be allowed to fail in times of crisis, no matter what their size or make-up, says a report issued by the Institute of International Finance (IIF). The report addresses priority issues in cross-border resolution, and states any losses incurred as a result of a failure should be borne by shareholders and creditors, not taxpayers.

"As we have declared before, we must build a cross-border resolution system that deals with the problem of ‘too big to fail' so there will be no

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