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What’s the Best Way to Resolve a Global Bank? A Review of Comment Letters on Total Loss Absorbing Capacity (TLAC)

"Last November, the Financial Stability Board (FSB)1 released a proposal to put in place a new international failure resolution regime designed to address the too-big-to-fail challenge posed by the largest global banks. The FSB’s consultative document, which was endorsed by the United States and others at the Group of Twenty (G20) Leaders’ summit in Brisbane, Australia, proposes the creation of a new set of international capital buffers, over-and-above those currently prescribed through the Basel III agreement.

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