Analysis: “Measures adopted by the European Commission to mitigate the impact of COVID-19 in the banking sector” by Pablo Biscari García

The severe economic shock caused by the COVID-19 pandemic as well as the severe containment measures adopted by countries around the world to control the spread of the outbreak have significantly affected the world economy, and the banking sector is no stranger to the negative effects of the pandemic. To enable the banking sector to respond effectively to this challenge and mitigate its impact, the European Commission has adopted a series of measures to clarify and recalibrate the banking prudential framework with a view to helping mitigate the economic impact caused by the outbreak.

As an introduction, it is important to understand that the European Union’s prudential framework aims to ensure, amongst other objectives, that credi