Regulators from the U.S. and the UK will get together in a “war room” next week to see if they can cope with any possible fall-out when the next big bank topples over, the two countries said on Friday according to Reuters. Treasury Secretary Jack Lew and the UK's Chancellor of the Exchequer, George Osborne, on Monday will run a joint exercise simulating how they would prop up a large bank with operations in both countries that has landed in trouble. Also taking part are Federal Reserve Chair Janet Yellen and Bank of England Governor Mark Carney, and the heads of a large number of other regulators, in a meeting hosted by the U.S.
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