BoE's Tucker wants capital agreement to go further than Basel III

06/14/2013 | Wall Street Journal, The

In addition to Basel III, an agreement regarding certain kinds of debt and resolution of troubled banks is needed, Bank of England Deputy Governor Paul Tucker says. "We also need to regulate for a minimum level of term bonded debt to provide gone-concern loss absorbency," he said. "The authorities would be mandating term-bond issuance of a minimum quantity from prescribed parts of banking groups in order to make resolution feasible."

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Wall Street Journal, The

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