EU gives banks breathing space on 'bail-in' debt in pandemic

LONDON (Reuters) - A European Union banking watchdog has given euro zone lenders more time for issuing special debt that avoids taxpayers having to rescue failed banks, saying lenders should focus on helping customers through the coronavirus pandemic.The Single Resolution Board (SRB) said banks in the bloc's banking union had made substantial progress in building up holdings of the debt, known as MREL, and were in a good position overall.The debt can be written down in a crisis to "bail in"..