A backstop for the EU's bank rescue fund will be launched soon, according to the fund's chairwoman, Elke König.
König said nobody believes the plan should be reconsidered again, Reuters reported, citing an interview in German newspaper Frankfurter Allgemeine Zeitung. She expects the backstop, a credit line the Single Resolution Fund could get if it runs out of funds, to be about €60 billion.
The fund, which receives funding from banks, finances the winding-down of banks in a crisis.
Meanwhile, Mario Centeno, the chairman of the Eurogroup of finance ministers, said the plan to expand the eurozone's bailout fund, the European Stability Mechanism, or ESM, had now received wide support within the group, Reuters reported separately.
Centeno, who is also Portugal's finance minister, reportedly said during a conference in Lisbon that "only some details need to be fine-tuned in the negotiations" and that the introduction date could be before 2024.
"But I expect that at the end of the month we could have an agreement in principle," he added.
The ESM still does not have enough funds to deal with a large banking crisis, Reuters noted, thus the need for a safety net.
