UK chancellor Alistair Darling is planning legislation this autumn to force British banks to draw up “living wills” so that they can be dismantled more easily in any future financial crisis. The proposal to set a timetable for banks to simplify their corporate structures and plan for dissolution will be included in a financial services bill in the Queen’s speech in November. The bill will also give the FSA watchdog body statutory responsibility for financial stability, Darling told the FT on Monday.

This entry was posted by Gwen Robinson on Tuesday, September 15th, 2009 at 4:54 and is filed under Capital markets, People. Tagged with Alistair Darling. Edit this entry.