U.S. and U.K. Plan Banking ‘War Game’ to Test Crisis Defenses

Regulators in the U.S. and U.K. will carry out their first so-called war game to simulate the failure of a major cross-border bank as they test their defenses against the type of crisis that crippled the financial system in 2008. The exercise, involving Federal Reserve Chair Janet Yellen and Bank…

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U.S. and U.K. Plan Banking ‘War Game’ to Test Crisis Defenses