Writing in the Financial Times, Martin Gruenberg, chairman of the US Federal Deposit Insurance Corporation, and Paul Tucker, deputy governor of the Bank of England, say this represents the first concrete steps to end the “too big to fail” problem of large international banks.

 

With Mr Tucker leading international efforts to devise emergency resolution plans, the US-UK template for their 12 large international banks will be a template for the 16 systemically important banks (GSifis) based in other countries.