EU parliament’s moratorium plan billed ‘recipe for bank run’

Proposal allows pre-resolution stay as well as one during resolution provided bank reopens in between

European Parliament

The European Parliament has put forward its own proposal for rules on temporary closures of failing banks that would allow two rather than one two-day moratoria on payments, as long as the bank is reopened for at least one business day in between, has learnt.

The proposal was made at a May 17 meeting of members of the European Parliament (MEPs), say banking industry lobbyists and lawyers. But rather than preventing a run on the feeble bank – as the rules intend – the new plan could

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