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EU reaches deal on banking reform to absorb losses: Austrian min


Devdiscourse News Desk brussels
Updated: 05-12-2018 01:09 IST
EU reaches deal on banking reform to absorb losses: Austrian min

The deal now needs to be finalised in talks later on Tuesday with the European Parliament, Austrian Finance Minister Hartwig Loeger said at the end of a ministerial meeting he chaired in Brussels. (Image Credit: Twitter)

European Union finance ministers reached a political agreement on Tuesday on a major reform of banking rules that set the level of buffers banks must raise to absorb losses and introduce new capital requirements to strengthen financial stability.

The deal now needs to be finalised in talks later on Tuesday with the European Parliament, Austrian Finance Minister Hartwig Loeger said at the end of a ministerial meeting he chaired in Brussels.

(With inputs from agencies.)


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