![]() ![]() ![]() A living will without resolution powers is not worth anything," a regulatory official from a G20 country said on condition of anonymity. "There is a danger of this losing momentum as many countries don't have resolution powers. If deadlines are missed, the financial markets are likely to react in adverse fashion to news that many major banks are still not bomb-proof. That would make the second largely irrelevant. Officials are not confident, however, that the first deadline will be met. Then in December twenty-nine top banks identified by the FSB must submit "living wills" to show how they would cope with a big market shock without the taxpayer help that angered the public and hit government finances. ![]()
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