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Recovery and Resolution Plans - remarks by Andrew Bailey
In remarks made today at the Santander International Banking Conference in Madrid, Andrew Bailey - Executive Director for Banking Services and Chief Cashier - discusses the role of Recovery and Resolution Plans (RRPs) as part of the response to the banking crisis.
Published on
17 November 2009
He notes that ".fire prevention is better than firefighting. We cannot justify having a banking system that depends on the use of public money to douse the fire when the crisis comes. And we also cannot allow conditions to exist where risks are taken on the basis that this backstop exists."
Press release