Fed Gov. Urges Bankruptcy Code Changes For Failed Banks

Law360, New York (October 18, 2013, 3:49 PM ET) -- A top Federal Reserve official on Friday encouraged changes to the Bankruptcy Code to make it easier to unwind large financial institutions, but added that the bankruptcy process would not work to take apart the most complex and interconnected institutions quickly and safely.

In a speech at a conference on unwinding the largest, globally systemic financial institutions, Fed Gov. Daniel K. Tarullo said that the optimal outcome for the bank regulatory landscape would likely be to amend the bankruptcy code to allow large financial institutions to...
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