The Globe and Mail reports in its Thursday, April 19, edition that Ottawa has laid out its final regulations for banks aimed at avoiding the use of taxpayer dollars to bail out financial institutions in the unlikely event of a failure. A Canadian Press dispatch to The Globe reports that under the so-called bail-in regime, authorities could convert certain kinds of unsecured, long-term debt of a failing lender into shares to stabilize the financial institution, rather than asking taxpayers to fund a government bailout. The new regulations, published in the Canada Gazette and which take effect in September, are part of a raft of measures put in place by regulators globally to prevent a recurrence of the government bailouts needed during the 2008 financial crisis. Unlike in the United States and the United Kingdom, Canada's banks did not need a bailout, but the regulations shore up the country's banking framework and outline a contingency plan for future crises. Moody's vice-president David Beattie says the regulations are positive for depositors and taxpayers, but affected banks will be required to have more capital on hand.