| 单词 | too big to fail |
| 释义 | too big to fail The idea that some banks will always be supported, because their failure would have an unacceptable effect on the stability of the national or international financial system. If such a bank should get into trouble, it is presumed that the central bank will bail it out. It is further contended that this will make such a bank more willing to take risks. The counterargument is that even if it received aid, there might still be serious consequences for the managers and shareholders of the bank. In any case, the theory only applies to the largest financial institutions. For example, in 1995 the London-based merchant bank Barings plc was allowed to fail after sustaining major losses through irregular trading on the Singapore derivatives market, since the Bank of England could identify no systemic risk resulting from its failure. |
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