FT: EU States working on 'backstops' for banks
13 July 2011
EU officials said there was a solid commitment among countries to strengthen any institutions that are shown to be weak, but that ministers had agreed that "action plans" should look first to private sector solutions.
This time, some banks – notably in Germany – have been extremely unhappy about the amount of information which the EBA plans to publish and the relatively rigid methodology being applied. BaFin, Germany’s bank regulator, has also accused the EBA of acting without legitimacy in setting the rules that define bank capital.
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