Search
 

EU Nations Sign Bank Fund Plan

In the biggest step since adoption of the euro, almost all EU governments signed on to pool money in a central fund that can be tapped in financial crisis.

By Jim Brunsden, Bloomberg | Updated on May 21, 2014

Euro-area nations did what was once said to be politically impossible—sign an agreement on pooling money to deal with crisis-hit banks.

All European Union (EU) governments except the U.K. and Sweden signed the plan, which sets out how nations should transfer monies raised from levies on their banks to a central fund that could be tapped in crises. The fund is part of a broader move to joint supervision and crisis management of euro-area banks that other EU nations can sign up to voluntarily. The signing took place at a meeting of ambassadors today in Brussels.

Complete your profile to continue reading and get FREE access to Treasury & Risk, part of your ALM digital membership.

Your access to unlimited Treasury & Risk content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Critical Treasury & Risk information including in-depth analysis of treasury and finance best practices, case studies with corporate innovators, informative newsletters, educational webcasts and videos, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM websites including PropertyCasualty360.com and Law.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

Treasury & Risk

Join Treasury & Risk

Don’t miss crucial treasury and finance news along with in-depth analysis and insights you need to make informed treasury decisions. Join Treasury & Risk now!

  • Free unlimited access to Treasury & Risk including case studies with corporate innovators, informative newsletters, educational webcasts, and resources from industry leaders.
  • Exclusive discounts on ALM and Treasury & Risk events.
  • Access to other award-winning ALM publications including PropertyCasualty360.com and Law.com.

Already have an account? Sign In Now
Join Treasury & Risk

Copyright © 2024 ALM Global, LLC. All Rights Reserved.