Definition of living wills

There are plans to force UK banks to prepare "living wills".  These are detailed plans that would enable banks to stipulate in advance how they would raise funds in a crisis and how their operations could be dismantled after a collapse. Regulators hope such plans might help to avoid a replay of the panic and cross-border litigation that erupted when the Lehman Brothers investment bank collapsed in 2008.  [1] 

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Living wills

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