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APR 05, 2013 - FT Alphaville

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This brave new world

Cyprus may not be a template but as Pawel Morski said, the actual template is probably not going to look all that different. We’ve already written a little bit about this and on Thursday Barclays published a note suggesting the Cyprus mess, plus the incoming common resolution framework, might wipe €15bn annually from the profits of Europe’s biggest banks. The draft of said framework is scheduled to come into play by 2015 with the bail-in tool, which had been delayed until 2018, perhaps being moved forward. We await clarity from European legislators this summer, if the summer ever ... Read More

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