March 12, 2020 / 12:59 PM / 25 days ago

ECB to let euro zone banks breach requirements due to coronavirus

FRANKFURT, March 12 (Reuters) - The European Central Bank decided on Thursday to let euro zone banks fall short of some key capital and cash requirements as they struggle with the coronavirus outbreak.

“The ECB will allow banks to operate temporarily below the level of capital defined by the Pillar 2 Guidance (P2G), the capital conservation buffer (CCB) and the liquidity coverage ratio (LCR),” the ECB said in a statement. (Reporting By Francesco Canepa; Editing by Kevin Liffey)

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