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Small banks need a crisis-management plan too, FSI's Restoy says

( September 17, 2019, 15:26 GMT | Official Statement) -- MLex Summary: Small banks may need their own crisis-management framework, Fernando Restoy of the Basel-based Financial Stability Institute has said, as it might not be appropriate to apply insolvency proceedings to lenders even if their failure would not cause a wider financial crisis. In a speech published today, Restoy also called for global authorities to finalize reforms to deal with larger failing lenders, including the power to create a bridge bank, to distribute losses across a multinational bank's different jurisdictions, and to offer temporary liquidity support.Crisis management framework: what remains to be done?...

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