Top banks in EU given deadline for recovery plans

LONDON Wed Jan 23, 2013 6:14am EST

LONDON (Reuters) - Top banks in the European Union must present plans by the end of this year spelling out how they would survive a major shock, the European Banking Authority said on Wednesday.

"The plans shall be submitted to the respective competent authorities and discussed within colleges of supervisors," the EBA said in a statement.

The pan-EU regulator said the requirement will affect 39 named banks.

(Reporting by Huw Jones)