George Osborne at the Mansion House Dinner

The transcript discusses the anticipated rise in economic activity by 2050 and the importance of wealth creation in cities. It emphasizes that while resolution procedures are crucial, they should complement, not replace, the need for banks to maintain sufficient loss-absorbing capital. Systemically important financial institutions, in particular, must hold higher levels of such capital to ensure financial stability.

What is expected to happen by the year 2050 according to the video?

• An increase in certain figures

• A decline in city activities

• A reduction in financial institutions

• A decrease in global wealth

How is wealth creation in the city described in the video?

• As an unnecessary change

• As a welcome development

• As a neutral event

• As a negative impact

What is the relationship between resolution procedures and loss-absorbing capital?

• They are opposites

• They are complements

• They are alternatives

• They are unrelated

What must banks ensure according to the video?

• Sufficient loss-absorbing capital

• Minimal capital reserves

• Only resolution procedures

• No capital requirements

What is required of systemically important financial institutions?

• Higher levels of loss-absorbing capital

• No specific capital requirements

• The same capital as before

• Lower levels of capital