(Irish Times) The European Union has agreed new regulations that will permit deposits of more than €100,000 to be bailed-in in future bank failures, though governments can request that certain categories of creditors be excluded.

The new rules, which will come into effect in just over two years, were agreed in the early hours of yesterday morning in Strasbourg.

They oblige banks to follow a set hierarchy of creditor “bail-in” up to the value of 8 per cent of a bank’s total assets, before any government money can be used to save a bank.

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