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By Antoine KREMER, ABBL
As the coronavirus-induced lock-down is taking its toll not only on citizen’s health and moral, but also on the economy, the EU institutions and authorities in charge of banking (ECB, EBA, …) have reacted by giving some interpretative leeway and improving banks’ access to ECB cash. The European Commission’s banking package presented on 28 April is to be seen as a legislative addition to the above. It consists in an interpretative communication and most importantly in a limited number of proposed changes to the capital requirements regulation (CRR). The aim of the package is to facilitate banks’ lending to households and businesses feeling the impact of the virus-induced crisis.
The “CRR quick-fix” as it has soon been...
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