Bank Groups and Financial Conglomerates, Retooling Resolution Regimes.

This article discusses developments in reforms to the regulation of bank and financial institution resolution regimes in the European Union, the United Kingdom, Canada, and the United States. Resolution regimes are the triage for financial institutions after they experience problems. They work in tandem with measures that require appropriate levels of capitalisation, and are not a substitute for current weaknesses of the system in this respect. While these developments are extraordinary in their breadth, drastic measures were required because of the significance of the losses arising out of the financial crisis. Largely the financial institutions themselves are driving the structures being developed, and while these structures will assist with early financial institution resolution, they will not change fundamental values that underpinned the system that lead to the financial crisis. One normative question that remains to be answered is why, when addressing the collapse of banks, the