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Article: The Banking Act 2009.
- Article from:
- Mondaq Business Briefing
- Article date:
- June 8, 2009
CopyrightCOPYRIGHT 2009 Mondaq Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Andrew McKnight, Salans' leading Banking and Finance Consultant, takes an in-depth look at the implications of the Banking Act 2009 Introduction
Events over the last year or so have demonstrated the need for governmental, regulatory and central bank intervention, sometimes of a drastic nature, in the affairs of banks which find themselves in financial difficulties, usually because of a lack of liquidity but also through a deficiency in capital. Up until recently, the matter had been dealt with in the UK in an ad hoc fashion, sometimes using supervisory powers under the Financial Services and Markets Act 2000 and its legislative predecessors. Generally speaking, ...