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BoE Tells Banks To Publish Resolution Plans By 2021

Law360, London (December 18, 2018, 5:01 PM GMT) -- The Bank of England told the U.K.’s major banks on Tuesday that they must publicly disclose their plans for winding down without a taxpayer handout if they go bust, as it plans to avoid a repeat of the financial crisis.

The BoE and the Prudential Regulation Authority have published proposals that they said will protect Britain’s economy and taxpayers from the need to bail out struggling banks by requiring institutions to be accountable if they fail.

The package — which includes plans to force bigger lenders to publish an assessment of the likelihood that they can be rescued — is part...

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