CBI comments on European Commission's proposals for recovery and resolution plans
- Published on Thursday, 07 June 2012 09:44
- Posted by Scott Buckler
The CBI commented on the European Commission's proposals for recovery and resolution plans which will apply to major banks and investment firms
Matthew Fell, CBI Director for Competitive Markets, said:
"Recovery and resolution plans are the critical final piece of the regulatory jigsaw. Along with better supervision and higher levels of capital, they should form the core defence against any future financial shocks, systemic risks to the economy, and taxpayer exposure to any future losses.
"Confidence and clarity are paramount in a crisis, so the plans must be robust in setting out how critical front line services will continue to operate, and be clear about who will be in charge of the situation."