Senior guarantee plans lift market but details needed

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Senior guarantee plans lift market but details needed

Banks could be able to draw on state guarantees to insure their senior unsecured debt, according to announcements made on Thursday by the EU heads of state and the European Banking Authority. The plans provoked relief among senior unsecured market participants, who said it could unlock a funding market that for some time has been off-limits for all but the top echelon of bank issuers.

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