Banks wrestle with recovery plans - banks must write "living wills"

Since the 2008 collapse of Lehman Brothers triggered taxpayer rescues of half a dozen other large financial institutions, the problem of too big to fail banks has been issue number one on the global financial reform agenda.

By the end of this year, 29 of the biggest banks must write living wills that spell out how they could be stabilised or shut down in a crisis. For those that do business outside their home countries, their various regulators are facing a similar deadline for inking co-operation agreements on how they would handle a crisis ... READ MORE

Released by Financial Times - 4 March 2012