EU strikes deal on banking rules for new bad loans cover

EU strikes deal on banking rules for new bad loans cover

European Union lawmakers and governments on Tuesday reached a political deal on new rules for the money that banks should set aside against possible losses from new loans that turn sour, the EU Commission said.

"Today's political agreement is an important step to further reduce risks in the EU banking sector and strengthen its resilience," the EU executive said in a statement. (Reuters)

Source: www.businessworld.ie