EBA confirms pandemic reporting requirements are to continue
The European Banking Authority (EBA) has announced that COVID-19-related reporting and disclosure guidelines will continue to apply until further notice. It affirms the ongoing need to monitor exposures and the credit quality of loans benefitting from payment moratoria and public guarantee schemes.
While there has been, says the EBA, a notable reduction in the volume of relevant loans, uncertainty around COVID-19 persists, and these public support measures continue in some EU member states. Loans under such measures currently exhibit a deterioration in their credit outlook, underlining the ongoing credit risk. However, the EBA also recognises that the level of measures still in place varies between jurisdictions, and notes that competent authorities may exercise the flexibility embedded in the guidelines to reduce or stop some specific reporting and disclosure requirements.
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