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BOE says European Union bank-failure Bill may hinder too-big-to-fail fix

Bill sets out 5-day moratorium on payments from failed banks undergoing restructuring

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The Bank of England said that the proposed moratorium in resolution conflicts with existing market protocols.

London

THE Bank of England (BOE) took aim at a European Union plan to boost supervisors' powers to stop cash leaving ailing lenders, adding its weight to mounting criticism of a Bill intended to make sure big banks can be wound down without wreaking havoc on the economy.

The BOE

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