Global bank regulators set for showdown

Divided global bank regulators are preparing for a showdown on rules intended to make sure taxpayers will not be on the hook when one of the world’s biggest lenders fails.

The Financial Stability Board (FSB) holds a plenary meeting in London today to finish work on total loss-absorbing capacity (TLAC).

Nations such as the US and Germany, which are pushing for the toughest rules, are pitted against Japan, France, and others that prefer a softer line.