Jeroen Dijsselbloem, the head of the Eurogroup, spooked the markets by implying the Cyprus bailout was the template.
Meetings among euro-zone finance ministers are presided over by Jeroem Dijsselbloem, the new Dutch finance minister.
"If the Russians want to say they could lend more, that wouldn't help, " Mr Dijsselbloem said.
Mr Dijsselbloem said the bank's problems stemmed from a decline in the value of its property portfolio.
Eurogroup head Jeroen Dijsselbloem said ministers were ready to help Cyprus, but the details still needed to be worked out.
As global markets fell following his remarks, Mr Dijsselbloem issued a clarification, saying Cyprus was a "specific case with exceptional challenges".
Speaking in Brussels, Mr Dijsselbloem said Cyprus represented a systemic threat to the eurozone -- further underscoring the danger of an escalation.
Although Mr. Dijsselbloem subsequently backed away from the comments, they had already put an end to the relief rally that followed Monday's bailout agreement.
The Netherlands' Jeroen Dijsselbloem, the head of the group of euro-zone finance ministers, said it was crucial that Cyprus receive financing help from Russia.
"We agreed to target a political endorsement of the programme towards the second half of March, " Mr Dijsselbloem said, referring to the rescue package.
Stocks retreated after reports that Dutch Finance Minister Jeroen Dijsselbloem, could usher in a new template for resolving future bank problems in the euro zone.
"I don't think the ECB is using threats, " Mr Dijsselbloem said.
"I can sympathise easily with the resistance many will feel because we again will need to use a large amount of public money, " Mr Dijsselbloem said.
The Eurogroup, of 17 eurozone finance ministers, will meet to discuss the Cyprus bailout at 18:00 local time (17:00 GMT) on Sunday, its president Jeroen Dijsselbloem tweeted.
BBC: Cyprus says 'significant progress' in debt crisis talks
The new Dutch Finance Minister, Jeroen Dijsselbloem, who was elected the new chair of the Eurogroup of eurozone finance ministers on Monday, is supportive of the measure.
After the Cyprus deal with the ECB and IMF was announced the Eurogroup Chair Jeroen Dijsselbloem remarked that the rescue package for Cyprus could be a template for future crisis.
The likeliest solution, according to a draft proposal and statements Thursday by Eurogroup chairman Jeroen Dijsselbloem, will be to extend the average maturities on both countries' rescue loans by seven years.
Later, though, Mr. Dijsselbloem backed away from these comments.
WSJ: Stocks Fall Globally as Investors Worry What's Next in Euro Zone
European stocks took a turn for the worse on Monday after Dijsselbloem suggested that a bailout deal for Cyprus could serve as a template to resolve any future problems with euro-zone banks.
WSJ: Greek Stocks Slump; Investors Play Catch Up on Cyprus Worries
Jeroen Dijsselbloem, the Netherlands' finance minister, said in a statement he had "looked at every alternative involving private parties", but found none that could guarantee the stability of the Dutch banking system.
Mr Dijsselbloem said the pattern for bank rescues should see shareholders take the first hit, then bondholders, who lend money through financial markets, and only then should depositors with large bank balances be tapped.
The head of the eurozone group of finance ministers, Jeroen Dijsselbloem, said there were no apparent signs of increased withdrawals of savings from peripheral to core countries in the region as a result of the Cyprus crisis.
Dutch Finance Minister Jeroen Dijsselbloem - who chairs the Eurogroup of finance ministers - said the rescue represented a new template for dealing with bank crises in the eurozone, with uninsured depositors bearing some of the cost.
But the chairman of the Eurogroup of eurozone finance ministers, Jeroen Dijsselbloem, told the European parliament that Moscow had indicated it was not willing to extend "another loan or an investment in the banks", Reuters news agency reported.
Dutch finance minister Jeroen Dijsselbloem, the current head of the Eurogroup, held a formal, on-the-record joint interview with Reuters and the FT today, saying that the messy and chaotic Cyprus solution is a model for future bailouts.
Cyprus remained the focus for markets in Asia after Eurogroup head Jeroen Dijsselbloem on Monday said that the structure of the island's rescue package could serve as a template for future bailouts in region, according to media reports.
Comments by Jeroen Dijsselbloem, head of the Eurogroup of euro-zone finance ministers, spooked financial markets Monday after he suggested that a bailout deal for Cyprus could serve as a template to resolve any future problems with euro-zone banks.
Following the talks, its president Jeroen Dijsselbloem issued a statement saying the group backed fully guaranteeing deposits below 100, 000 euros and said Cyprus would "introduce more progressivity in the one-off levy", provided that the same amount of funds were raised.
BBC: Cyprus told it can amend bailout, as key vote postponed
Capital Controls do not form part of the envisaged resolution regime which is the only distinguishing factor of the Cyprus bailout which Dijsselbloem failed to express but he certainly does not envisage capital controls as being the model for Europe.
Last week, Finance Minister Jeroen Dijsselbloem signaled in remarks focused on bailouts in general and not on the situation at SNS Reaal that all bondholders should take a hit in case of a nationalization, including senior bondholders, who normally enjoy strong protection.
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