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Top banks in EU given deadline for recovery plans
January 23, 2013 / 11:16 AM / 5 years ago

Top banks in EU given deadline for recovery plans

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

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