Fail-safe

摘要

The failure on August 14th of Colonial BancGroup of Alabama, a lender with $25 billion in assets, was also an example of a continuing success story: America's resolution regime for deposit-taking banks. The Federal Deposit Insurance Corporation (fdic) calmly seized the bank and sold its branches and deposits to bb&t, another bank. Borrowers continued to make their repayments. Contrast that with the slow-motion failure of Britain's Northern Rock early on in the crisis, where Parliament had to pass emergency laws to take the bank into public ownership.