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ECB to extend pandemic relief for banks by nine months: Bloomberg

Published 06/16/2021, 05:09 AM
Updated 06/16/2021, 05:10 AM
© Reuters. FILE PHOTO: The European Central Bank (ECB) logo in Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski/File Photo

© Reuters. FILE PHOTO: The European Central Bank (ECB) logo in Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski/File Photo

FRANKFURT (Reuters) - The European Central bank is set to extend relief from a key capital requirement by nine months to keep credit flowing amid the coronavirus pandemic, Bloomberg reported on Wednesday, citing people familiar with the matter.

The decision has yet to be ratified by the ECB's Governing Council, the agency added.

If the move is confirmed, banks supervised by the ECB will continue to be allowed to exclude some of their exposure to central banks, including deposits, from the calculation of their leverage ratio until March 2022.

© Reuters. FILE PHOTO: The European Central Bank (ECB) logo in Frankfurt, Germany, January 23, 2020. REUTERS/Ralph Orlowski/File Photo

An ECB spokesperson declined to comment.

The Federal Reserve decided in March not extend a similar break.

Latest comments

'pandemic relief for banks' . lmao .. This is the biggest fraud in the century: Banks get the money stuffed down their throats and they are truly ROLLING IN CASH as is evidenced by their recent price surge to dizzying heights. So now calling a 'pandemic relief' is the worst lie that Jerome Powell is tolerating. He is such a wimp. Get a grip on yourself, Jerome. Do what is right for a change instead of kissing a.. of Wallstreet.
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