German law will tackle the issue of "too big to fail"

Rendering of Executive National Bank's renovat...                                                               
The Federal Agency for Financial Market Stabilization said a law will help Germany restructure banks and avoid being forced to rescue systemically important financial institutions. Starting next year, the agency will subject banks to a levy that will be used to reorganize troubled lenders and ensure that systemically important parts of banks are protected. "In the future, the banking sector will contribute to the costs of stabilization measures, reducing the likelihood that the state will be forced to rescue systemically relevant banks because of the 'too big to fail' argument," said the agency's Hannes Rehm. Full story here