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Part II Bank Resolution, 6 Banks in Distress

Rodrigo Olivares-Caminal, John Douglas, Randall Guynn, Alan Kornberg, Sarah Paterson, Dalvinder Singh

From: Debt Restructuring (2nd Edition)

Rodrigo Olivares-Caminal, Alan Kornberg, Sarah Paterson, John Douglas, Randall Guynn, Dalvinder Singh

From: Oxford Legal Research Library (http://olrl.ouplaw.com). (c) Oxford University Press, 2022. All Rights Reserved.date: 10 August 2022

This chapter looks at the background of the Banking Act 2009 and various other reforms in the UK. While the Banking Act 2009 was originally introduced to deal with banks in distress it has been significantly modified to apply to a range of UK institutions such as building societies, investment firms, and central counterparties and banking groups. The 2009 Act provides the ‘appropriate regulator’, and the Bank of England as resolution authority provides the tools to deal with a UK institution that is experiencing financial difficulties. The chapter also looks at the recovery and resolution plans that are now an integral part of the decision-making process for the authorities as they decide how best to prepare an institution in advance of crisis.

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