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ECB to extend pandemic relief for banks by nine months: Bloomberg

ECB to extend pandemic relief for banks by nine months: Bloomberg
ECB to extend pandemic relief for banks by nine months: Bloomberg   -   Copyright  Thomson Reuters 2021
By Reuters

FRANKFURT – The European Central bank is set to extend relief from a key capital requirement by nine months to keep credit flowing amid the coronavirus pandemic, Bloomberg reported on Wednesday, citing people familiar with the matter.

The decision has yet to be ratified by the ECB‘s Governing Council, the agency added.

If the move is confirmed, banks supervised by the ECB will continue to be allowed to exclude some of their exposure to central banks, including deposits, from the calculation of their leverage ratio until March 2022.

An ECB spokesperson declined to comment.

The Federal Reserve decided in March not extend a similar break.

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