UK Banks No Longer ‘Too Big To Fail,’ Says Central Bank

People stand outside the Bank of England in London on Jan. 23, 2022. Henry Nicholls/Reuters

The biggest banks in the United Kingdom are no longer “too big to fail,” and could continue offering services even when facing a crisis, the Bank of England (BoE) said in a June 10 press release.

The UK central bank works with financial institutions to minimize disruptions to the economy should the banks fail: a process called resolution.