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French bank fund set to reach 10 bln euros - Moscovici
December 19, 2012 / 11:48 AM / 5 years ago

French bank fund set to reach 10 bln euros - Moscovici

PARIS, Dec 19 (Reuters) - A fund to rescue ailing banks in France and guarantee their deposits will rise to 10 billion euros ($13.2 billion) from an initial 2 billion, French Finance Minister Pierre Moscovici said on Wednesday.

Banks’ shareholders and some bondholders may also be called upon to pay for the cost of a bank failure, said Moscovici, at a news event to present a new French bank-reform bill.

“The fund will be 2 billion euros, later to rise to 10 billion,” he said.

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