27.07.2015 - 16:35 [ Keep Talking Greece ]

Moody’s on Greek banks law: Big deposits of over €100K at risk of bail-in

Greece’s new bank-failure law puts uninsured depositors at risk because it ranks them below state claims in an insolvency or resolution, Moody’s Investors Service said on Monday. The law is “credit negative” for bondholders and uninsured depositors because of the limits on using public funds for bank resolution and because of the burden-sharing for all unsecured creditors starting next year, Moody’s said.