THE CANADIAN TIMES

EC PUBLISHING SINCE 1904

Friday, Dec 03rd

Last updateWed, 14 Feb 2018 7pm


Strict Standards: Only variables should be assigned by reference in /home/times/public_html/ct2/modules/mod_janewsticker/helper.php on line 239
You are here: Home Canadian Times Finance 'Bail-in' regime for banks should apply industrywide: ANZ CEO

Strict Standards: Only variables should be assigned by reference in /home/times/public_html/ct2/plugins/content/jabookmark/jabookmark.php on line 68

'Bail-in' regime for banks should apply industrywide: ANZ CEO

Banks around the world should be obliged to follow a "bail-in" regime if it were to be implemented, and not just those "too big to fail", Michael Smith, chief executive of Australia and New Zealand Banking Group, said on Wednesday.

On Tuesday, a government-backed interim review said Australia's main lenders were viewed as too big to fail and it was considering policy options to reduce that perception, including ringfencing critical banking activities, bail-in and boosting capital requirements.

"If you have a bail-in of the globally systematically financial institutions you then have to have a bail-in throughout the industry," Smith told reporters ahead of a meeting of the Business 20 group in Sydney.

Read More

BLOG COMMENTS POWERED BY DISQUS