- Once submitted, capitalisation plans to be implemented within a further 3 months or sooner
- Banks that come close to failing will be subject to “reinforced scrutiny” to protect against further capital deterioration
- If a failing bank presents no credible plan by deadline, its government to stand ready with steps to maintain fiscal stability
- If measures unsuccessful and deterioration at a bank likely to endanger systemic stability, process of restructuring and resolution will be initiated
These details came out on the wires while I was gone. Think the talk of banks failing stress tests will have been partly to blame for the euro slippage.