Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 32 n° 259

COVID-19: Statement by Economic and Monetary Affairs committee Chair and political coordinators

Posted by fidest press agency su martedì, 31 marzo 2020

Statement by the Chair and political coordinators of the Economic and Monetary Affairs committee after discussions with Andrea Enria (SSM) and José Manuel Campa (EBA).The Chair and the coordinators are holding a series of meetings by videoconference with leaders of European institutions and authorities to discuss a coordinated approach to counter the negative economic effects of the COVID-19 pandemic. The Chair and coordinators had an exchange of views with Andrea Enria, Chair of the Supervisory Board of the ECB, and José Manuel Campa, Chair of the European Banking Authority.Coordinators welcomed the coordinated response of the European and national banking supervisors in order to address the fallout of the crisis. Credit and liquidity provided by banks play a decisive role to mitigate the most severe adverse economic consequences on the European citizens. Flexibility for banks in the prudential treatment of loans, the application of accounting rules, and the release of capital buffers is needed.The relief granted should, however, be fully available to support the customers of banks, families and firms. Coordinators support actions by banking supervisors for the application of strong temporary restrictions for banks on payments of dividends and bonuses, and buying back of own shares. These actions should be applied evenly in the internal market.


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