• Skip to primary navigation
  • Skip to main content
  • Skip to primary sidebar
  • Skip to footer
  • Español
  • English
  • Bloglovin
  • Email
  • Facebook
  • Instagram
  • LinkedIn
  • Twitter
  • YouTube
CDE Almería – Centro de Documentación Europea – Universidad de Almería

CDE Almería - Centro de Documentación Europea - Universidad de Almería

Centro de Documentación Europea de la Universidad de Almería

  • HOME
  • WHAT´S ON
    • EU BULLETINS
    • EU NEWS
    • Activities
    • EU Calls and Awards
    • Radio Program «Europe with You»
  • DOCUMENTATION
    • Bibliographic Collection
      • Almería EDC Digital Collection
      • UNIVERSITY OF ALMERIA LIBRARY
    • Documentation by topic
    • EU Media Collection
      • Web Space
      • MEDIATHEQUE REPOSITORY
  • Europe on the net
    • Institutions
    • EU Representation in Spain
    • European information network of Andalusia
    • EU official journal
  • ABOUT US
    • Presentation
    • People
    • Contact

COVID-19: statement of EU ministers of finance on continuing bank lending and on maintaining a well-functioning insurance sector

Inicio » EU News » COVID-19: statement of EU ministers of finance on continuing bank lending and on maintaining a well-functioning insurance sector

17/04/2020

It is crucial that banks continue financing households and corporates, including SMEs experiencing temporary difficulties amid the COVID-19 pandemic. To this end, making full use of the flexibility provided for in the prudential and accounting framework, is essential at a time when sufficient financing to cover financial pressures is vital for the economy.

EU ministerss welcome the recent statements by the European Commission, the European Central Bank, the Single Resolution Board, the European Banking Authority and the European Securities Markets Authority on the application of regulatory and accounting requirements for financial institutions in the current exceptional circumstances.

They stress the importance that all authorities continue to take an ambitious and coordinated approach when further specifying how to make best use of the available flexibility to ensure that the various initiatives announced by Member States and financial institutions are taken into account and that there is a level playing field amongst Member States.

In light of the recommendations from supervisory authorities, they urge all banks that have not already decided to do so to refrain from making distributions during this period and to use the freed capital and available profits to extend credit or other urgent financing needs arising from the ongoing crisis to their customers in a way that helps to ensure preserving economic activity. They call on the banking sector to support households and corporates affected by the COVID-19 outbreak, with the aim of ensuring business continuity.

In addition, Ministers welcome the recent statements and recommendation by the European Insurance and Occupational Pensions Authority (EIOPA) on the identification of a number of tools allowing for flexibility within the current Solvency II framework for insurance undertakings. We urge insurance companies to follow up on EIOPA’s statements to take timely and comprehensive measures to preserve their capital position, including the temporary suspension of all discretionary distributions, and to continue to act in the best interests of consumers.

Finally, they welcome supervisory flexibility expressed by European supervisory authorities regarding deadlines of supervisory reporting and public disclosure.

More information

Full news

Publicaciones relacionadas:

The economy in the EU after the Coronavirus crisis Covid-19: EU recovery plan should prioritise climate investment Commission and EIB provide CureVac with a €75 million financing for vaccine development and expansion of manufacturing Humanitarian Aid: €64 million for most vulnerable in Southern Africa Eurogroup statement on COVID-19 developments this autumn

“This is a space for debate. All comments, for or against publication, that are respectful and do not contain expressions that are discriminatory, defamatory or contrary to current legislation will be published”.

Reader Interactions

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Primary Sidebar

Publicaciones relacionadas

The economy in the EU after the Coronavirus crisis Covid-19: EU recovery plan should prioritise climate investment Commission and EIB provide CureVac with a €75 million financing for vaccine development and expansion of manufacturing Humanitarian Aid: €64 million for most vulnerable in Southern Africa Eurogroup statement on COVID-19 developments this autumn

Footer

Centro de Documentación Europea de Almería
CDE Almería

Edificio Parque Científico-Tecnológico (Pita) Planta: 1ª, Despacho: 29
04120 – Ctra. Sacramento s/n.
Almería (Spain)
Teléfono: (+34) 950 015266

Sing in!

Navigation

  • HOME
  • WHAT´S ON
    • EU BULLETINS
    • EU NEWS
    • Activities
    • EU Calls and Awards
    • Radio Program «Europe with You»
  • DOCUMENTATION
    • Bibliographic Collection
      • Almería EDC Digital Collection
      • UNIVERSITY OF ALMERIA LIBRARY
    • Documentation by topic
    • EU Media Collection
      • Web Space
      • MEDIATHEQUE REPOSITORY
  • Europe on the net
    • Institutions
    • EU Representation in Spain
    • European information network of Andalusia
    • EU official journal
  • ABOUT US
    • Presentation
    • People
    • Contact

Creative Commons LicenseThis work is licensed under a Creative Commons Attribution-NonCommercial 4.0 International License.

Copyright © 2022 CDE Almería · Legal terms · Privacy policy · Cookies policy