ECB Banking Supervision provides temporary capital and operational relief in reaction to coronavirus 

• Banks can fully use capital and liquidity buffers, including Pillar 2 Guidance 

• Banks will benefit from relief in the composition of capital for Pillar 2 Requirements 

• ECB to consider operational flexibility in the implementation of bank-specific supervisory measures 

The European Central Bank (ECB) today announced a number of measures to ensure that its directly supervised banks can continue to fulfil their role in funding the real economy as the economic effects of the coronavirus (COVID-19) become apparent. 

“The coronavirus is proving to be a significant shock to our economies. Banks need to be in a position to continue financing households and corporates experiencing temporary difficulties. The supervisory measures agreed today aim to support banks in serving the economy and addressing operational challenges, including the pressure on their staff,” said Andrea Enria, Chair of the ECB Supervisory Board. 

Attached press relese.