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Banks May Get Extra Time To Build Buffers Amid Brexit

Law360, London (November 15, 2018, 10:03 PM GMT) -- European banks that face a shortfall in their capital buffers because a €100 billion ($127 billion) U.K. stockpile of debt will no longer count toward their loss-absorbing holdings after Brexit may be given an extension to rack these back up, Europe's authority for handling failing banks said on Thursday.

The Single Resolution Board, which steps in when an EU bank is identified as likely to fail, said that bonds that have been issued by euro-area banks under British law will no longer count as part of their buffers if the U.K. crashes out of the bloc without a deal on mutual...
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Kirkland & Ellis LLP has redefined what it means to be the biggest of BigLaw — weighing in at 2,116 attorneys by year end 2018 and becoming the first firm since Law360 began tracking law firm head counts to top 2,000 U.S.-based attorneys.

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