The Banking Act – the new “Special Resolution Regime” for dealing with failing banks
26 February 2009
Mayer Brown Legal Update
On 21 February 2009 the Banking Act (the “Act”) became effective as law. Also on 21 February, the statutory instruments dealing with safeguards for partial property transfers and ‘no creditor worse off’ provisions (the “Orders”) came into effect. This article also appeared in the April 2009 issue of The Banking Law Journal.