Banks reel as ECB redraws funding rules

Bank stocks in Europe and the UK fell sharply and the risk of owning their debt leapt on the 4 September 2008 after the European Central Bank declared a crackdown on abuses of its bank liquidity operations.

ECB: Press Release, 4.9.08: Biennial review of the risk control measures in Eurosystem credit operations http://www.ecb.int/press/pr/date/2008/html/pr080904_2.en.html

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