Comment: Page 3 section 13

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Page 3 section 13

They are talking bail-in as in Cyprus and the same thing is being proposed in the 2013 budget for Canada.

"In the U.S., the new equity would become capital in one or more newly formed operating entities. In the U.K., the same approach could be used,

or the equity could be used to recapitalize the failing financial company itself — thus, the highest layer of surviving bailed-in creditors would become the owners of the resolved firm. In either country,the new equity holders would take on the corresponding risk of being shareholders in a financial institution.

Throughout, subsidiaries(domestic and foreign) carrying out critical activities would be kept open and operating, thereby limiting contagion effects. Such a resolution strategy would ensure market discipline and maintain financial stability without cost to taxpayers"