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Bank of Spain releases details of restructuring of savings bank sector

On Tuesday, the Bank of Spain released details regarding the status of the restructuring of the Spanish savings bank sector, in what it called “the biggest overhaul of the Spanish banking sector in recent history.” The Bank also provided details regarding funding for bank restructurings supplied by the Fund for the Orderly Restructuring of the Banking Sector (FROB),

Spain, Banking, Insolvency & Restructuring, Alston & Bird LLP, Liability (financial accounting), Preferred stock, Tier 1 capital, European Commission
U.K. Treasury publishes proposals to manage investment bank failures

Yesterday, the U.K. Treasury announced that it had published a report setting out detailed proposals for the effective management and resolution of failed investment banks.

United Kingdom, Capital Markets, Insolvency & Restructuring, Alston & Bird LLP, Bankruptcy, Legal personality, Climate change mitigation, Debt, Investment banking, Default (finance), Investment company, Bank reserves
House Judiciary Subcommittee holds hearing to examine the roles of bankruptcy law and a new resolution authority to combat “too big to fail” doctrine

Today, the House Judiciary Committee’s Subcommittee on Commercial and Administrative Law held a hearing to discuss the role of bankruptcy and antitrust law in financial regulatory reform, particularly with respect to institutions that may be regarded as “too big to fail,” as highlighted during the financial crisis.

Testifying before the Subcommittee were the following witnesses:

Panel I

USA, Banking, Insolvency & Restructuring, Alston & Bird LLP, Bankruptcy, Bailout, Administrative law, Bank holding company, Federal Deposit Insurance Corporation (USA), US Department of the Treasury, American International Group, US House Committee on the Judiciary, Lehman Brothers