Extra tools needed for bank resolution funding – EU official

Current €55bn fund may not be enough, says senior manager at Single Resolution Board

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Stricken banks in the euro area may require extra funding tools beyond the emergency pot available under Europe’s banking union, a senior official has said.

The Single Resolution Fund is designed to provide liquidity to European banks entering resolution, but in a period of general market stress a large bank could rapidly exhaust this fund, said Gaetan Viallard, a head of unit at the Single Resolution Board.

“If you have a large bank failing, and it has already used its high-quality collateral

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