The European Banking Authority (EBA) took stock last week of how prudential banking rules have been adapted to deal with the Covid-19 pandemic.
In particular, the authority issued a statement on Thursday 9 July stressing the importance of resolution plans in times of crisis. In its view, national authorities are in a position to request updated financial data from financial institutions in order to adapt, if necessary, the agreed resolution plans.
It recalls that the resolution colleges, which bring together the national resolution authorities of the same banking group, are the main bodies where exchanges of information take place.
See the statement: https://bit.ly/2C6icoL
Moratoriums. The day before, the EBA had also reviewed the implementation of the prudential banking supervision measures applied during the pandemic.
In particular, its report draws up an inventory of temporary moratoria on loan repayments activated at national level. 26 Member States have introduced such moratoriums either by having legislated or by having taken regulatory decisions without legislation, or by opting for both, depending on the type of moratorium.
More info at: https://bit.ly/2CuQrWU (Original version in French by Mathieu Bion)