![]() Each of the three lenders was found to either not have adequate financial resources, or proper data and measurements of them, in place to ensure they can absorb losses without putting public money at risk.Ĭoncerns were also raised over whether HSBC could properly restructure the business in a way that would ensure services were still being provided while authorities helped wind down the lender. It said three lenders – HSBC, Lloyds and Standard Chartered – had to address shortcomings that could otherwise “complicate unnecessarily” their ability to fail safely. ![]() However, the Bank cautioned that there were “still further improvements to be made” by some of the largest banks to avoid the chaos that ensued after the 2008 financial crisis, which forced the UK government to spend £137bn of taxpayer money to stabilise the banking system. It also determined that shareholders and investors rather than taxpayers would be first in line to cover banks’ losses and ensure they had enough capital to operate.
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