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‘Living wills’ for banks could be made public by 2020

Bank of England also wants clearing houses to have plans for dealing with operational failures or cyber attacks

‘Living wills’ for banks could be made public by 2020
Photo: Ben Phillips

The Bank of England has warned UK banks it might begin publishing details of their wind-down plans from 2020, in a bid to make the industry's financial disaster-planning more transparent.

In a speech on Tuesday at the Futures Industry Association's annual international derivatives expo in London, Jon Cunliffe, the Bank's deputy governor for financial stability, spoke about the progress made to strengthen the UK's financial system in the decade since the crisis.

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