ECB restricts use of unsecured bank bonds as collateral
The European Central Bank will continue to accept unsecured bank bonds as collateral for lending, including some that may be written down if a bank fails, but it is restricting their use and increasing checks, it said on Wednesday.
The move comes in response to new European rules stating that investors in a bank, including holders of bonds that are not backed by collateral, must suffer losses in case of default before public money can be used.
The decision ensures that banks' senior unsecured debt subject to "statutory subordination", where national rules say it should be written... read more
- 15:17 Which of the new 'alphabet' 10ps will rare coin collectors be...
- 15:16 Ofcom seeks to scrap local TV roll-out
- 15:16 Discover Fashioned from Nature at the V&A
- 15:15 Arsene Wenger: Robin Van Persie sends emotional message to Arsenal...
- 15:15 Man Utd legend Sir Alex Ferguson reveals why he’s delighted at...
- 15:14 What does 420 friendly mean?
- 15:14 Top of the Shops with Tom Kerridge - A flop from top to bottom
- 15:14 Canadian chocolatier Shyte goes viral for hilarious name
- 15:14 Alien spaceships, grunting pigs and revving Ford Cortinas among...
- 15:14 Festival fans urged to snap up tickets to National Forest's Timber...
- 15:13 Community fights against plan for quarry expansion
- 15:13 Send us your football team photos
- 15:13 Trinity star’s grandson Luke is born to run
- 15:13 Teenager turns bird detective
- 15:13 Historic Burnley building to be transformed through ambitious project
- 15:13 Staff, management and volunteers pitch in to turn Burnley green
- 15:12 Roadworks Round-up: The works which may cause you hold-ups in the...
- 15:12 Magpie Recipe: Hake with Spanish beans, for two
- 15:12 Bury families in poverty are to get help
- 15:12 Headteachers from Bury highlight school funding crisis
- 15:11 Historic Burnley building to be transformed through ambitious project
- 15:11 Is your business stuck in a mobile not-spot?
- 15:10 France's ex-PM Manuel Valls could stand for mayor of Barcelona
- 15:10 Sir Alex Ferguson pays touching tribute to Arsene Wenger after...
- 15:10 PNE in Numbers: North End have become Championship’s comeback kings
- 15:09 Have you seen this missing Kettering man?
- 15:08 Ill passenger causes delays on trains
- 15:08 Multi-million pound scheme to get Nuneaton jobless back to work
- 15:08 Got a rat, cockroach or other pest problem in Mansfield? Phone...
- 15:08 Tony Pulis demands Middlesbrough see the job through