EU committee votes in favour of depositor preference
The European Parliament’s Economic and Monetary Affairs Committee on Monday night voted in favour of protecting even uninsured depositors over senior bondholders when bailing in creditors of failed or failing banks.
Last years agreement on European Banking Union included plans to insure depositors for up to 100,000 the level at which most national deposit insurance schemes are currently set.
In another blow to buyers of senior unsecured bank paper, the committee also voted to bring forward the
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