Banks no longer 'too big to fail' says Bank's outgoing deputy governor

In his final speech as deputy governor of the Bank of England Paul Tucker revealed that the resolution regime, which will allow one of the world's largest banks to collapse without being rescued, is now in place.

‘The necessary technology is clear. The necessary restructuring of firms is clear, and the necessary degrees and forms of cross-border co-operation are clear. It is now a matter of just doing it,' Tucker (pictured) told the Institute of International Finance in Washington, according to the Daily Mail. The deputy governor has been working flat out since the collapse of Lehman five years ago to help put in place a so-called ‘resolution' regime to end the ‘Too Big to Fail' problem that left Western governments picking up the pieces in the wake of the 2008 financial panic. ‘Nothing is mor...