... BANK OF ST.LOUISREV I EWfor taking risky strategies, regardless of whetherthey were aware of their scale, and the creditors of the institution were able to pass the debts of the company to its ... Authority (FSA). The responsibilities in the case of a crisis were thensplit among the Treasury, the Bank, and the FSAas documented in a Memorandum of Understand-ing, which had been reviewed and ... earlier. The second question concerns the effective-ness of the response mechanism of the authoritiesin the United States and the United Kingdom. The decisions to defend vital elements of the banking...