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Regling Says States Could Avoid Bank-Rescue Liability, Welt Says

July 14 (Bloomberg) -- Klaus Regling, who heads the euro area’s bailout funds in the debt crisis, said governments could avoid liability for bank rescues under proposals for a regional bank supervisor, Welt am Sonntag reported, citing an interview.

If the European Central Bank is cleared to act as a bank regulator in the euro area, banks can receive rescue loans without going through governments, meaning states wouldn’t be on the hook for the credits, the Berlin-based newspaper quoted Regling as saying.

That contradicts German Finance Minister Wolfgang Schaeuble, who said on July 9 that he expects governments to guarantee rescue loans even if they go directly to banks, Welt am Sonntag said.

To contact the reporter on this story: Tony Czuczka in Berlin at aczuczka@bloomberg.net

To contact the editor responsible for this story: James Hertling at jhertling@bloomberg.net

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