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Turkey needs to strengthen bank-resolution plans, says FSB

( November 19, 2015, 17:20 GMT | Official Statement) -- MLex Summary: Turkey needs to strengthen its resolution plans for its banks, as its current framework doesn't meet the key requirements in global standards, according to the Financial Stability Board. Turkish banks are currently under no legal requirement to develop and maintain recovery and resolution plans, leaving the industry more vulnerable to collapse in the event of another financial crisis. The Turkish authorities have also failed to identify the biggest banks in the country that could prove "too big to fail."The following is the text of the statement. The report is attached below the text....

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