EU Lawmaker Opposes German Push to Speed Bank Loss Rules
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The European Parliament lawmaker managing the bloc’s bank-resolution bill pushed back against a German-led effort to speed rules on creditor writedowns when lenders fail.
“Markets and investors need time to adjust,” Gunnar Hoekmark, a Swedish legislator in charge of the Brussels-based assembly’s work on a draft law handling bank failures in the 27-nation bloc, said in a post on Twitter. Rules imposing creditor writedowns will be most effective if they are implemented after other parts of the law have already come into force, he said.