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The eigenstructure based characterization of M-channel finite impulse response perfect reconstruction (FIR PR) filterbanks in a previous paper by the authors is extended here to the linear-phase case. Some results relating to linear-phase filterbanks is derived by finding appropriate restrictions on the eigenstructure of the analysis polyphase matrix. Consequently, a complete and minimal characterization for such filterbanks with all analysis length 2M and any synthesis length is developed. Parameterization and design examples are also presented.