ECB cuts top banks’ required capital by over €350bn
Capital conservation requirement and Pillar 2 guidance amounts relaxed, countercyclical capital buffers encouraged to fall
Top lenders in the eurozone have been given the green light by the European Central Bank to release capital buffers in a bid to fight the economic fallout from the spread of the novel coronavirus.
The central bank said 117 directly supervised firms, known as significant institutions (SIs), would be permitted to “operate temporarily below the level of capital defined by the Pillar 2 Guidance (P2G
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