“Too big to fail” era over for banks, promises Bank of England

The Bank of England created £895 billion through the QE programme (Yui Mok/PA) (Picture: PA Wire)

THE era of “too big to fail” banks going bust and being bailed out by the public is over, the Bank of England claimed today, while warning that three major lenders still have short comings.

Lloyds, Standard Chartered and HSBC were told to improve their so-called resolution plans, a somewhat public rebuke. All three said they would do so.