Reuters logo
EU needs backstop for bank rescue fund - banking watchdog Koenig
September 29, 2017 / 8:56 AM / 2 months ago

EU needs backstop for bank rescue fund - banking watchdog Koenig

BRUSSELS, Sept 29 (Reuters) - A backstop for a European Union bank rescue fund is needed to increase financial stability, the head of an EU banking watchdog said on Friday.

“We are working on a backstop and we need a backstop,” for the Single Resolution Fund (SRF), the chair of the Single Resolution Board Elke Koenig told a conference.

The fund, which is funded by banks, already has a capacity that is reassuring, Koenig said, but warned that a backstop for the fund would be needed to address possible major banking crisis. (Reporting by Francesco Guarascio @fraguarascio; editing by Foo Yun Chee)

Our Standards:The Thomson Reuters Trust Principles.
0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below