Paul Tucker, Deputy Governor of Financial Stability at BoE has delivered a speech on bank resolution and the future of finance. He explained why capital requirements alone will not suffice to end the “too-big-to-fail” problem, and how a healthy international financial system requires cross-border cooperation on resolution regimes and independent prudential supervisors. He also reviewed the statutory regime developed so far, the resolution strategies available and the hierarchy of creditors when taking losses. He finally defended the UK’s retail ring fence as a fall back that protects market infrastructure and deposits where an orderly resolution cannot be achieved. (Source: Resolution and Future of Finance)