UK and US regulators issue plan to cope with big bank failure

American and British regulators have unveiled a plan for dealing with failing global, systemically important banks that will allow them to fire senior executives and force losses on shareholders to protect taxpayers.

"A resolution strategy for a failed or failing globally active, systemically important financial institution should assign losses to shareholders and unsecured creditors, and hold management responsible," according to a paper jointly issued by the United States Federal Deposit Insurance Corp and the Bank of England in London.

via Business feed http://www.scmp.com/business/banking-finance/article/1102500/uk-and-us-regulators-issue-plan-cope-big-bank-failure