BSG and EBF Opinion and Recommendations on COVID-19 Situation
24 March 2020
The EBA, the ECB and some National Competent Authorities (CAs) gave indications and/or have already announced several supervisory and prudential policy measures aimed to reduce the COVID-19 impact.
The BSG (Banking Stakeholder Group having 30 members appointed to represent credit and investment institutions operating in the Union) and the EBF (European Banking Federation consisting in 32 national banking associations in Europe that represent about 3,500 banks) opinion and recommendations on COVID-19 situation are useful starting point for the conversations with the Banking Associations to ensure that the measures they will take are most suitable considering the current and future unpredictable situation.
This article provides further insight on BSG and EBF recommendations in order to tackle the COVID-19 challenge and its impact on EU banking sector.