ECB’s Cœuré warns impact of bail-ins still unclear
Benoît Cœuré, a member of the executive board of the European Central Bank (ECB) today delivered a speech discussing the likely impact of rules on bailing in banks in Europe, which are due to be finalised in January 2014 and implemented by 2018.
Speaking at Bocconi University in Milan, Cœuré said the rules would likely put both upward and downward pressure on bank funding costs. Systemically important banks are likely to be the most affected, he said, as the implicit subsidy is cut, while all
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