Which of the following was not considered to be a positive outcome of the Northern...

The role of the UK government and the possible underwriting of risks by tax-payers, and the general question of Moral Hazard

The reform of the Deposit Protection Scheme because of its internal inconsistencies

It emphasised the importance of effective governance arrangements within financial firms

The original successful business model had not stress tested sufficiently for the incidence of Low Probability, High Impact incidents