EU leaders agree on bank capital ratio draft says

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According to an obtained draft by Reuters, the EU leaders are to endorse the 9.0% capital ratio requirements, where the draft said that capital target will have to be attained by June 30, 2012,which might be amended still in the meeting.

The draft also said that the EU government is considering providing guarantees on bank liabilities which would be needed to provide more direct support for banks in accessing term funding when appropriate.

The final decisions will be cleared in the summit on the matter as the leaders decide at the summit today which is expected to start in Brussels at 16:00 GMT.

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