EC has adopted a temporary framework to allow member states to make full use of the flexibility provided by the State aid rules to support economy in the context of the COVID-19 outbreak. In addition to the many other support measures that member states can use under State aid rules, the temporary framework allows member states to guarantee the availability of sufficient liquidity for businesses of all types and preserve the continuity of economic activity during and after the COVID-19 outbreak. The temporary framework provides for five types of aid, including aid in the forms of guarantees on loans taken out by companies from banks; subsidized public loans granted to businesses; guarantees for banks that channel state aid to the real economy; and short-term export credit insurance. The framework will be in place until the end of December 2020.
Keywords: Europe, EU, Banking, COVID 19, Temporary Framework, State Aid Rules, Credit Insurance, Credit Risk, EC
Leading economist; commercial real estate; performance forecasting, econometric infrastructure; data modeling; credit risk modeling; portfolio assessment; custom commercial real estate analysis; thought leader.
Previous ArticleBoE and PRA Announce Measures to Alleviate Challenges of COVID-19
The European Banking Authority (EBA) proposed implementing technical standards on the interest rate risk in the banking book (IRRBB) reporting requirements, with the comment period ending on May 02, 2023.
The U.S. Federal Reserve Board (FED) set out details of the pilot climate scenario analysis exercise to be conducted among the six largest U.S. bank holding companies.
The Board of Governors of the Federal Reserve System (FED) adopted the final rule on Adjustable Interest Rate (LIBOR) Act.
The European Central Bank (ECB) published an updated list of supervised entities, a report on the supervision of less significant institutions (LSIs), a statement on macro-prudential policy.
The Hong Kong Monetary Authority (HKMA) published a circular on the prudential treatment of crypto-asset exposures, an update on the status of transition to new interest rate benchmarks.
The European Commission (EC) adopted the standards addressing supervisory reporting of risk concentrations and intra-group transactions, benchmarking of internal approaches, and authorization of credit institutions.
The China Banking and Insurance Regulatory Commission (CBIRC) issued rules to manage the risk of off-balance sheet business of commercial banks and rules on corporate governance of financial institutions.
The Hong Kong Monetary Authority (HKMA) made announcements to address sustainability issues in the financial sector.
The European Banking Authority (EBA) published regulatory standards on identification of a group of connected clients (GCC) as well as updated the lists of identified financial conglomerates.
The General Board of the European Systemic Risk Board (ESRB), at its December meeting, issued an updated risk assessment via the quarterly risk dashboard and held discussions on key policy priorities to address the systemic risks in the European Union.