Financial Sector Resolution: Broadening the Regime

Cm. 8419

Author:

HM Treasury

Publisher:

TSO (The Stationery Office)

Price: £16.00

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The paper 'Financial Sector Resolution: Broadening the Regime (Cm. 8419)' sets out the Government's proposals, and questions for consultation, to enhance the mechanisms available for dealing with the failure of systemically important non-banks.

The 2007-09 financial crisis exposed a great many flaws in the global financial system. To address the problems a wide-ranging programme of banking and wider financial sector reform is underway at European and global level.

When the Government came into office they asked the Independent Commission on Banking to recommend ways to strengthen the resilience of the banking system and promote competition, and have published a white paper (see below), setting out how it would implement those recommendations.

However, banks are only a part of the financial system and other types of financial institutions can also pose a risk to financial stability, if there is no way for them to fail safely.

The recommendations cover four broad groups:

• investment firms;

• central counterparties;

• non-central counterparties financial market infrastructure; and

• insurers.

The Government does not preclude the importance of other types of non-bank, including hedge funds, or non-bank finance companies, and welcomes all evidence.

This document includes indicative draft legislative clauses, for certain key aspects of envisaged resolution regimes.

Extent	35 pages	ISBN	9780101841924
Size	A4	Price	£16.00
Format	Paperback	Published	01 Aug 2012
Availability	Colour copy: 3 - 5 days	Delivery	Delivery options and charges