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Image header Agence Europe
Europe Daily Bulletin No. 12454
Contents Publication in full By article 9 / 39
EU RESPONSE TO COVID-19 / Finance

ESMA and EBA clarify application of IFRS 9 for expected credit losses caused by COVID-19

On Wednesday 25 March, the European Securities and Markets Authority (ESMA) and the European Banking Authority (EBA) issued clarifications on the application of the IFRS 9 international standard on accounting for financial instruments in the context of the COVID-19 crisis, particularly with regard to the calculation of expected credit losses.

Since the beginning of the crisis, Member States have adopted a series of support measures for businesses, including moratoria on repayment of loans,...

Contents

EU RESPONSE TO COVID-19
EUROPEAN COUNCIL: Twenty-Seven will work on an economic recovery plan to bounce back as quickly as possible after Covid-19 pandemic
EUROPEAN PARLIAMENT: European Parliament is preparing to hold its first partially 'dematerialised' plenary session, devoted to COVID-19 crisis
EUROPEAN PARLIAMENT: MEPs sitting virtually cannot claim per diems, says European Parliament President
EUROPEAN PARLIAMENT: concerns and doubts about number of COVID-19 cases in European Parliament
AGRICULTURE: COVID-19, EU agriculture ministers call for exceptional measures and derogations from CAP rules
HEALTH: ECDC maintains pressure on Member States with seventh risk assessment
HEALTH: COVID-19, Member States’ equipment capabilities meet only 10% of requirements
HEALTH: Covid-19 vaccine research might avoid animal testing in some cases
FINANCE: ESMA and EBA clarify application of IFRS 9 for expected credit losses caused by COVID-19
PAYMENTS: COVID-19, contactless payment limit has seen an increase in several EU countries
STATE AID: COVID-19, Commission validates support schemes in United Kingdom, Spain, Germany and Denmark
TRADE: European Commission wants to mobilise Member States to protect European strategic assets in times of crisis
TOURISM: MEPs call for a 'more targeted' EU response to 'address damage caused by pandemic'
SOCIAL: social partners call for a temporary suspension of Stability Pact rules
ENVIRONMENT: response to COVID-19 is leading to a decrease in air pollution in Europe, EEA confirms
HUMANITARIAN AID: UN launches $2 billion global humanitarian response plan for COVID-19
MIGRATION: COVID-19, Pierre-Alain Fridez calls for 'humanitarian assistance to refugees in camps' 
COUNCIL OF EUROPE: in face of confinement, GREVIO Chair calls for specific measures for protection of victims of domestic violence
WTO: COVID-19, Mr Azevêdo calls for notification of trade-related measures
BIODIVERSITY: possible postponement of UN COP15 on global biodiversity to 2021
SECTORAL POLICIES
CUSTOMS: Commission outlines main lines of though on taking Customs Union forward
HEALTH: Commission to postpone application of rules on medical devices by one year
AGRICULTURE: European Parliament rapporteur Kataïnen presents compromise amendments on transitional measures for CAP
TRANSPORT: adoption of 'mobility package I' put on hold and called into question
TRANSPORT: European Commission launches a consultation on ‘sustainable aviation fuels’
TRANSPORT: European Commission asks EU Council for an “open-ended” mandate to continue its negotiations with ASEAN
JUSTICE: child abduction by a Japanese parent, Commission promises to continue its dialogue with Japan
ENERGY: tidal power generation in Europe is expected to increase by 50% in 2019, according to Ocean Energy Europe
EXTERNAL ACTION
HUMAN RIGHTS: High Representative and Commission shall propose qualified majority voting on human rights issues
UKRAINE: EU demands access for OSCE patrols to areas not controlled by government
ENLARGEMENT: EU formally approves opening of EU accession negotiations with Skopje and Tirana
ECONOMY
COMPETITION: in-depth investigation into proposed acquisition of Tachosil by Johnson & Johnson
INSTITUTIONAL
HUNGARY: Hungarian EPP MEPs call for evaluation of all emergency laws implemented in EU
SOCIAL AFFAIRS - EDUCATION
EDUCATION: Croatia raises issue of ageing farmers, without questioning causes
NEWS BRIEFS
ENERGY: Commission specifies part of its work schedule
ENERGY: more than 60 GW of wind capacity installed worldwide in 2019, according to Global Wind Energy Council
ENVIRONMENT: Commission launches public consultation on industrial emissions
SPACE: Commission launches consultation on use of 'critical' infrastructure in connection with European Galileo programme
RULE OF LAW: public consultation launched to feed into Commission's first annual report