On Air Now

Tune in to Listen

99.9 FM Hibbing, MN

Weather

Current Conditions(Hibbing,MN 55746)

More Weather »
34° Feels Like: 27°
Wind: ESE 8 mph Past 24 hrs - Precip: 0.22”
Current Radar for Zip

Tonight

Rain/Freezing Rain 29°

Tomorrow

Rain/Snow 37°

Fri Night

Rain/Snow 32°

Alerts

EU says owners, junior debt-holders of aided banks to bear losses

File picture shows an illuminated euro sign in front of the headquarters of the European Central Bank (ECB) in the late evening in Frankfurt
File picture shows an illuminated euro sign in front of the headquarters of the European Central Bank (ECB) in the late evening in Frankfurt

BRUSSELS (Reuters) - Shareholders and junior debt-holders of banks bailed out by the state will bear the burden of any bank restructurings ordered by EU regulators, the European Commission said on Wednesday.

Banks will also be required to present a restructuring plan ensuring their viability before they are allowed to receive state support, the EU executive said as it presented updated rules for the financial industry.

The Commission also said any aided bank must set strict executive pay limits.

(Reporting by Foo Yun Chee; editing by Barbara Lewis)

Comments