The EU Commission Adopts Banking Package to Facilitate Lending in Response to COVID-19

On April 28, 2020, in response to the ongoing COVID-19 pandemic, the EU Commission issued a comprehensive banking package aimed at boosting lending to households and businesses, consisting of a legislative proposal for a regulation amending Regulation (EU) No. 575/2013 (CRR), and an interpretative communication providing guidance to institutions and their supervisory authorities on the use of the flexibility embedded in existing EU rules.

Please click here to read the full alert memorandum on this new banking package.