Davos Talking Bank-Financed Rescue Fund

HopeTracker| Josef Ackemann, chief executive of Deutsche Bank, told the Financial Times on Friday that he’s advocating a European rescue and resolution fund for banks. Bob Diamond, head of Carclays, also supports the idea of a global levy, which could see banks contribute tens or even hundreds of billions of dollars over a period of years.

“I think every G20 country would like to have an insurance scheme that would help cover the cost of any future bank failure,” Diamond told the FT at the World Economic Forum in Davos. “A co-ordinated global system is preferable to an unlevel playing field.” via Financial Times