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Business & Finance

EU bank watchdog to miss lender recap deadline

Published Updated

european-centralLONDON: The European Banking Authority said on Tuesday it will not publish bank-by-bank recapitalisation targets this week, missing a self-imposed deadline as EU finance ministers struggle over broader plans to shore up confidence in the financial system.

"There will be further discussions at Ecofin and hopefully clearance will be given," an EBA spokeswoman said.

European Union finance ministers discuss the matter on Wednesday and if there is enough agreement, the EBA's board of supervisors will sign off on the final figures for publication, probably sometime next week, the spokeswoman added.

The watchdog said last month it expected to disclose the final individual capital shortfalls at the 70 banks it reviewed "in the course of November".

The EBA would also publish guidelines for banks that want to issue hybrid debt known as contingent capital to help meet the "temporary" 9 percent bank buffer requirement by mid 2012.

Copyright Reuters, 2011

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