National bank seeks emergency powers to recapitalise troubled banks

The Czech National Bank is drawing up changes to banking rules which would allow it to intervene in an emergency by boosting a troubled bank’s base capital, the news website Aktuálně.cz reported on Thursday. According to deputy bank governor Miroslav Singer, the changes would allow the bank to take that step within days and bring the country into line with other European countries. He stressed however that no Czech banks are in danger.

Author: Chris Johnstone