LONDON, March 21 (Reuters) - Britain's legal framework
is clear about the treatment of shareholders and creditors in
the event of a bank collapse, financial service minister Andrew
Griffith said on Tuesday when asked about Credit Suisse's
takeover by UBS.
"The government joins the Bank (of England) in welcoming the
set of actions taken yesterday by the Swiss authorities in order
to ensure financial stability," Griffith told parliament.
"It wouldn't be right for me from the despatch box to talk
about the treatment of (Credit Suisse) creditors, but the UK's
bank resolution framework does have a clear statutory order in
which shareholders and creditors would bear losses in a
resolution or insolvency scenario," he added.
(Reporting by David Milliken; editing by William James)
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