SRB head asks for extra tools to restore faith in resolution

Laboureix disputes Swiss claim that G-Sibs are not resolvable, but wants improvements to framework

When banks fail, the outcome is inevitably messy. The post-2008 regulatory framework for resolving banks was designed stop a failure turning into a systemic crisis that has to be managed with taxpayer funding.

Dominique Laboureix, appointed chair of the European Union’s Single Resolution Board (SRB) in November 2022, had less than six months to get his feet under the desk before the first major test of that framework materialised in March and April this year. Three major banks, with assets of...