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Regulators Should Add Bankruptcy Code, Hildebrand Says

(Corrects to show Hildebrand will join BlackRock as vice chairman Oct. 1.)

Current rules on banking regulation should be supplemented by a “special cross-border bankruptcy code” to strengthen the industry’s resilience in case of a credit squeeze, former Swiss central bank president Philipp Hildebrand, who will join BlackRock Inc. (BLK) as vice chairman Oct. 1, said at an event in Singapore today.

To contact the reporter on this story: Klaus Wille in Zurich at kwille@bloomberg.net

To contact the editor responsible for this story: Andreea Papuc at apapuc1@bloomberg.net

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