EU Commission adopts banking package to facilitate lending in the EU

Recently the EU Commission adopted a banking package which aims to facilitate bank lending in order to support the real economy (households and companies) highly impacted by Coronavirus.

The banking package encourages banks and supervisory authorities to apply the EU’s accounting and prudential rules more flexibly and proposes targeted amendments to the EU banking rules (CRR). The measures mentioned are temporary and specific adjustments to cope with exceptional circumstances.

This article provides further insight on key aspects mentioned by the Executive Vice-President of the EU Commission at the press conference.