EU Bank-Failure Law to Align With Global Crisis Fix: Hill
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The European Union will seek to square its rules on handling failing banks with too-big-to-fail measures under development by global regulators, as the bloc’s banks warn that inconsistencies would harm their ability to compete.
Jonathan Hill, the EU’s financial-services chief, said that he would seek to prevent clashes between EU law and the Financial Stability Board’s proposal on “total loss-absorbing capacity” to avoid banks being burdened “unnecessarily.”