10-09-15

ECB wants common European approach on writing of bank debt

Central bank says diverging national rules create unertainty

ECB President Mario Draghi

The European Central Bank has called for a common approach in the European Union to writing off bank debt, Reuters reported. In a legal opinion on a German draft law, the ECB said diverging national rules on the status of senior unsecured bank debt created uncertainty. See also our cepBlog on the matter.