With global leaders disappearing as fast as they arrived at the G20 Summit in Brisbane, TBTF (Too Big To Fail) – one of the key issues for financial markets – got the rubber stamp of approval.

Mark Carney, Bank of England governor and chairman of the Financial Stability Board (FSB) presented the findings of the FSB’s earlier release on “Adequacy of loss-absorbing capacity of global systemically important banks in resolution”.

The document examined a new requirement for total loss-absorbing capacity (TLAC) and is an admirable attempt to prevent government or taxpayers’ money bailing out banks again.