This may be so. I often wonder though if this "disaster recovery plan" has been tested with any bank of significant size. Maybe that's where the whole too-big-to-fail thing comes in.
Depends what you consider significant. The UK's Financial Services Compensation Scheme, which handles depositor protection, paid out over 26 billion pounds in the 2006-2011 period.
At the same time, though, the govt did push Lloyds TSB to take over HBOS in 2008 rather than let the latter fail.
