Author: David Schwartz J.D. CPA
The Bank of England and the US FDIC have issued a joint white paper, "Resolving Globally Active, Systemically Important, Financial Institutions," focusing on “top-down” resolution strategies that involve a single resolution authority applying its powers to the top of a financial group, that is, at the parent company level. The December 10, 2012 paper discusses how such a top-down strategy could be implemented for a U.S. or a U.K. financial group in a cross-border context.