You are here

EU says will ease capital charge on small business bank loans

Tuesday, July 12, 2016 - 23:49

[LONDON] The European Union will extend a reduction on capital charges on bank loans to small businesses to include loans above the current ceiling of 1.5 million euros, the EU's outgoing financial services chief said on Tuesday.

Capital charges were reduced as part of efforts to lift the bloc's sluggish growth.

"There will be no upper limit, and a capital charge reduction of 15 percent above 1.5 million euros," Jonathan Hill told the Bruegel think tank in Brussels.

Mr Hill, Britain's member of the EU's executive European Commission, set out what were likely to be his final decisions before leaving office on July 16. He resigned following the UK's vote last month to leave the EU.

REUTERS

sentifi.com

Market voices on:

Nespresso
Pair your daily business read with the perfect cup of espresso.

Subscribe to The Business Times today to receive your very own Nespresso Inissia coffee machine worth $188.

Find out more at btsub.sg/btdeal

Powered by GET.comGetCom