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EU says owners, junior debt-holders of aided banks to bear losses

File picture shows an illuminated euro sign in front of the headquarters of the European Central Bank (ECB) in the late evening in Frankfurt
File picture shows an illuminated euro sign in front of the headquarters of the European Central Bank (ECB) in the late evening in Frankfurt

BRUSSELS (Reuters) - Shareholders and junior debt-holders of banks bailed out by the state will bear the burden of any bank restructurings ordered by EU regulators, the European Commission said on Wednesday.

Banks will also be required to present a restructuring plan ensuring their viability before they are allowed to receive state support, the EU executive said as it presented updated rules for the financial industry.

The Commission also said any aided bank must set strict executive pay limits.

(Reporting by Foo Yun Chee; editing by Barbara Lewis)

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