MW: Europe bank regulator plans funding aid: report
By MarketWatch
FRANKFURT (MarketWatch) -- The European Banking Authority is considering options to help European banks having difficulty accessing credit markets for medium- and long-term funding, including a program to guarantee bank bonds, the Financial Times reported Wednesday. The guarantees would require new authority for the euro-zone's 440 billion euro ($635 billion) rescue fund, known as the European Financial Stability Facility. The proposals by Europe's top bank regulator are expected to be presented at a meeting of senior European officials later this week, the report said. But the measures are already facing resistance from member states who don't want to revisit the deal struck last month by euro-zone leaders to give the EFSF new powers, the newspaper said.
