In Europe and more broadly, there's this sort of existential question for regulators. Is it still the case that we need to make policy on the fly over a weekend? And if it turns out that no one really thinks you can bail in a bank then I think ultimately where that lands you is also bigger safety buffers. What would the politics of that kind of requirement look like? Presumably banks and bankers will object to being told to raise more capital.
Silicon Valley Bank. Signature Bank. Credit Suisse. The world’s banks look wobbly, leading to fears of broader economic pain. Our economics editor explains how regulators should stabilise the sector. Russia is running out of tanks; replenishing its supply will not be easy. And America has a new favourite dog breed.
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