The Governing Council of the European Central Bank (ECB) said on Thursday 17 September that “exceptional circumstances” related to the Covid-19 pandemic had combined to temporarily exclude certain exposures to central banks (cash holdings and over-the-counter deposits) from calculation of the leverage ratio for non-systemic banks.
The Governing Council said in a press release that the crisis caused by the coronavirus is forcing the ECB to adopt a high degree of monetary policy...