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Report: EU considers aligning loss-absorbency requirements with FSB's TLAC rules

TheEU is looking into setting loss-absorbency requirements for its biggest banks in linewith the Financial Stability Board's requirements set out in November 2015 for30 most systemically important lenders worldwide, Bloomberg News reported March25, citing a discussion paper by the European Commission.

Thepaper explores options for implementing the FSB rules.

ElkeKönig, chair of Europe's Single Resolution Board, in December 2015 that the euroarea's largest banks are likely to be required to hold more loss-absorbingcapital under EU rules than under the FSB's TLAC rules.