European banks may qualify for a fresh guarantee on wholesale debt, if political leaders follow through on one unresolved item from the deal reached last week to recapitalise the region's banks.The European Banking Authority said in a statement on Friday, Australian time, that "notwithstanding the European Central Bank's support for banks' short term funding needs, additional steps are required to restart the term unsecured funding market."The EBA said that "public guarantee schemes should be set in place where appropriate to support banks' access to term funding... [on] reasonable conditions."The authority called for "a coordinated approach", especially in terms of entry criteria, pricing and conditions. How much momentum this proposal has is hard to judge. The EBA statement noted that it has been asked to work with the EU Commission, the ECB and the European Investment Bank "to urgently explore options for achieving this objective."Wholesale funding guarantees were a common response to the financial crisis of 2008, though few, if any, new government guarantees have been forthcoming on bank debt since 2009.