TLAC is the new name of the game.

The Financial Stability Board presented this consultation paper on Total Loss-Absorbing Capacity (TLAC) for global systemic banks.

The agreement is “a watershed in ending ‘too-big-to-fail’ for banks,” said Mark Carney, the governor of the Bank of England and chair of the FSB.

If the G20 agrees, then TLAC will be the new name of the game.

The document offer…