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Reply #62: EU Ministers Back National Bank Guarantees With Common Rules [View All]

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Demeter Donating Member (1000+ posts) Send PM | Profile | Ignore Thu Dec-01-11 09:13 AM
Response to Reply #61
62. EU Ministers Back National Bank Guarantees With Common Rules
http://www.bloomberg.com/news/2011-11-30/eu-ministers-b...

...Against a background of rapidly deteriorating market circumstances and increasing time pressure, a coordinating mechanism should be in place in early 2012 for the guarantees, according to the document. The guarantees should apply from Jan. 1, 2012.

Moodys Investors Service Inc. said yesterday that banks in 15 European nations, including the largest lenders in France, Italy and Spain, may have their subordinated debt ratings cut to reflect the potential removal of government support. The guarantees are needed to help banks continue their lending activities in 2012, the European Banking Authority said last month.

Ministers had agreed that banks should not seek to meet the 9 percent capital threshold through winding up parts of their business or scaling back their activities, Rostowski said.

Deleveraging is not a way to achieve the required level of capital strength, he said.

I'M DEDICATING THE FOLLOWING TUNE TO THE EURO, AND THOSE WHO LIVE OR DIE BY HER...

http://www.youtube.com/watch?v=CzmnF6EfvaE
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