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EU strikes deal on bank reform, few technical details remain

Reuters  |  BRUSSELS 

By Francesco GuarascioBRUSSELS (Reuters) - European Union finance ministers struck a deal on a major reform of banking rules on Tuesday, addressing some of the loopholes exposed by the global financial crisis.The overhaul, proposed by the European Commission in November 2016, sets the level of buffers banks must raise to absorb losses and introduces new capital requirements to strengthen financial stability.Under the reform, European banks will have to abide by a new set of requirements aimed at keeping their lending in check and ensuring they have stable funding sources.Some technical ...

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First Published: Tue, December 04 2018. 18:57 IST