Covid-forborne loans default en masse in EBA stress test

13.4% of ex-moratoria exposures in ‘stage three’ default at 2023 test end-point

Loans that benefited from Covid-19 moratoria performed abysmally in European Union-wide banking stress tests, defaulting at twice the rate for all exposures under the harshest three-year forecast.

Under the adverse scenario of the European Banking Authority's (EBA) latest stress test, the proportion of stage-three exposures – those designated as defaulted under IFRS 9 – among loans previously subject to Covid forbearance was projected to reach 13.4% at end-2023, up from 3.1% at end-2020.


Only users who have a paid subscription or are part of a corporate subscription are able to print or copy content.

To access these options, along with all other subscription benefits, please contact or view our subscription options here:

You are currently unable to copy this content. Please contact to find out more.

Sorry, our subscription options are not loading right now

Please try again later. Get in touch with our customer services team if this issue persists.

New to View our subscription options

You need to sign in to use this feature. If you don’t have a account, please register for a trial.

Sign in
You are currently on corporate access.

To use this feature you will need an individual account. If you have one already please sign in.

Sign in.

Alternatively you can request an individual account here