The Bank of England found shortcomings at three major banks - Lloyds, Standard Chartered and HSBC
10 June 2022 - 11:25The Bank of England building is reflected in a sign in London, Britain. File photo REUTERS/TOBY MELVILLEThe Bank of England said on Friday it was satisfied lenders had taken steps to ensure they were no longer “too big to fail” in any future crisis, though it found shortcomings at three major banks.
In its first public assessment of how failing lenders could be dismantled in a crisis, the BoE said it had also identified “areas of further enhancement” for six firms.All three were found not to have produced sufficient analysis of their liquidity needs in the event of a wind down. All three banks said in separate statements on Friday they were making enhancements to address the issues identified and were improving their so-called resolution plans.
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