Europe’s financial regulation chief has pledged to delay tough new capital rules for banks, saying that support for lending has to be the overwhelming priority in the fight against coronavirus.
In remarks likely to be well received by Europe’s financial sector, Valdis Dombrovskis said now was not the time to push ahead with standards that would force banks to raise additional equity.
He applauded moves by global regulators on Friday to defer the rollout of new capital standards by one year, confirming Brussels would make sure European banks could benefit.
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