Plans to give clients and counterparties of failing investment banks greater protection will be unveiled by UK Treasury officials today in an effort to prevent a repeat of the legal wrangling around Lehman Brothers.
The move is aimed at ensuring an orderly wind-down of investment banks, particularly cross-border institutions sometimes deemed too big to fail.
Among proposals to be unveiled by Lord Myners, the Treasury minister in charge of financial services, banks would be required to keep up-to-date, centralised information about their counterparties.
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