UK banks will have to publish 'living wills' to ensure 'orderly failure' | General financial discussion | Discussion forum

From The Guardian -

UK banks will have to publish 'living wills' to ensure 'orderly failure'

Britain’s largest lenders will have to publicly disclose whether they can afford to foot the bill for their own failures and wind down in an “orderly” way, as part of the Bank of England’s latest efforts to avoid a repeat of crisis-era bailouts.

The public assessments of so-called living wills is part of the central bank’s efforts to ensure lenders can fail safely, without needing government cash or causing major disruption across financial markets, by 2022.

The Bank of England made that commitment to parliament in the wake of the 2008 financial crisis, which resulted in the government bailout of Royal Bank of Scotland and Lloyds.

https://www.theguardian.com/business/2018/dec/18/uk-banks-will-have-to-publish-living-wills-to-ensure-orderly-failure