
NEWS
COVID-19 - Impact on Financial Sector - 13 july 2020

Related Lawyer(s)
Please find below a summary of COVID-19 developments of last week (6/7 until 10/7 included); these alerts are dedicated to following up on the financial regulators’ responses to the crisis. We have also created a COVID-19 Resource Center to offer legal and business insights as this crisis continues to evolve. We wish you and your loved ones well.
If you have any questions please feel free to contact:
Tom Van Dyck |
Freya Mareels |
Wim Dedecker |
10/07/2020 | |
In its coronamonitor, Febelfin gives an overview of the most recent evolutions in payments and payments delays. Please find an overview hereunder:
|
|
8/07/2020 |
Febelfin - Payment deferral for citizens and businesses can be extended until the end of 2020 |
ESMA has issued this statement in the context of financial markets authorities’ recent actions to mitigate the impact of COVID-19 on the EU’s financial markets, to clarify the potential interaction between the intermediation of credit institutions and the requirements of article 35 of the MMF Regulation on external support. It also aims to coordinate the supervisory approaches of national competent authorities (NCAs) in light of liquidity challenges for MMFs in the context of the pandemic. |
|
9/07/2020 | |
ESMA has issued this statement in the context of financial markets authorities’ recent actions to mitigate the impact of COVID-19 on the EU’s financial markets, to clarify the potential interaction between the intermediation of credit institutions and the requirements of article 35 of the MMF Regulation on external support. It also aims to coordinate the supervisory approaches of national competent authorities (NCAs) in light of liquidity challenges for MMFs in the context of the pandemic. |
|
9/07/2020 | |
The EBA recommends resolution authorities to take into account the impact of COVID-19 on banks and their business models when taking decisions on resolution plans and on the minimum requirement for own funds and eligible liabilities (MREL). |
|
8/07/2020 | |
EIOPA asks insurance companies to review their product oversight and governance measures because of the potential impact COVID-19 can have on products and their utility for customers. EIOPA considers it key that insurance companies respect the fair treatment of customers in their actions responding to the pandemic. |
Copyright - Please do not quote without permission. Please note that this alert is not a legal advice.