WASHINGTON — Regulators from the U.S. and the United Kingdom took a major step Monday toward proving that they could dismantle a large globally active financial institution, outlining how the two sides would cooperate in the event of a cross-border resolution.

The Federal Deposit Insurance Corp. and the Bank of England, which have been in close talks about resolution planning since the financial crisis, released a paper revealing that both regimes favor "single point of entry" resolutions for international behemoths.

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