Eurozone crisis prompts Euro1 payment service to cut credit floors


Eurozone interbank payment service Euro1 is to cut its minimum credit floor from €5 million to €2 million in response to the continuing eurozone sovereign debt crisis, Euro1 director Alan Taylor says.

Speaking to Operational Risk & Regulation, Taylor says: "We are reducing the forced limit that you have to give to everyone. Given what's happening around Europe some banks are from countries that are really struggling; everywhere else they are cutting their limits, so they shouldn't have to keep t