Bank Resolution Regimes Need Urgent Reform to Protect Financial Stability

How to resolve a failed bank may seem like an arcane subject. Nevertheless, as demonstrated during the banking turmoil of 2023, it has important implications for financial stability, taxpayers, and trust in the financial system. The failure of the parent to Silicon Valley Bank resulted in almost $20 billion of losses for the Federal Deposit Insurance Corp. (to be recovered by higher deposit insurance assessments on the rest of the US banking system). And the decision by Swiss authorities to me