Reuters: Regulatory News: EU strikes deal on how to pay for failed banks

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EU strikes deal on how to pay for failed banks Jun 26th 2013, 23:11 BRUSSELS, June 27 | Wed Jun 26, 2013 7:11pm EDT BRUSSELS, June 27 (Reuters) - EU finance ministers agreed on Thursday new European rules on how to share the cost of bank failures, shifting the burden away from taxpayers who have shouldered the cost of bailouts since the global financial crisis. "We have a deal," said one EU official present at the talks that ran early into Thursday morning. The rules set a new standard by which EU countries can impose losses on shareholders, bondholders and depositors with more than 100,000 euros ($132,000) if a bank runs into trouble.

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