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IIF backs bank bail-in proposals for failing banks.
(From Banking Newslink)
The Institute of International Finance, funded by the banks, has issued a report supporting the bail-in concept whereby in certain circumstances bondholders may lose some or all of their holding in order to assist in the orderly wind-up of a failing bank or financial institution. The IIF has committed to working with others including the G20 group of nations to help make this possible. An array of top banking executives including Josef Ackermann, Deutsche Bank CEO, Urs Rohner, chairman of Credit Suisse and Peter Sands, Group Chief Executive, Standard Chartered gave their explicit support for the recommendations.
The report came from the IIF …
