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COVID-19 - Impact on Financial Sector - 8 May 2020

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08/05/2020

Please find below a summary of COVID-19 developments relevant to our clients; 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
+32 475 90 90 91
t.vandyck@liedekerke.com

Freya Mareels 
+32 475 25 11 50
f.mareels@liedekerke.com

Wim Dedecker
+32 491 36 03 99
w.dedecker@liedekerke.com

 

7/05/2020

NBB Circular integrates EBA Guidelines on legislative and non-legislative moratoria on loan repayments applied due to the COVID-19 pandemic

In this Circular, the NBB has integrated into its supervisory practice the EBA guidelines of 25 March on regulatory and supervisory measures on non-statutory moratoria for payment obligations on loans applied in the light of the COVID-19 crisis (EBA/GL/2020/02).

The purpose of these guidelines is to provide additional information and coherence on the prudential effects on exposures subject to a moratorium in the context of COVID-19.

To this end, the guidelines:

(i) prescribe criteria that a (legally and non-legally established) moratorium should fulfil in order not to be considered as a measure of respite;

(ii) clarify the application of the prudential framework to exposures benefiting from deferral of payment under the moratorium, while aiming to ensure consistent treatment of the measures for calculating the own funds requirements;

(iii) set out expectations of information exchange and reporting requirements.

     


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