European Banking Authority (‘EBA’) issues statement on the application of the prudential framework and the implications of COVID-19
26 March 2020
The EBA has issued a statement aiming to provide clarity to the EU banking sector on how the prudential framework should function due to the impacts of COVID-19. The statement includes the following topics:
- General considerations on the accounting and regulatory framework;
- Prudential identification of default;
- Classification of forbearance; and
- Considerations on IFRS 9.
The statement may be accessed here.