EU Tells Banks To Supply Info On Payment Holidays
By Najiyya Budaly
June 2, 2020, Law360
Europe’s banking watchdog told lenders Tuesday that they must hand over information on payment holidays granted to customers during the coronavirus pandemic so that national regulators can monitor operational and liquidity challenges caused by the measure.
The European Banking Authority set out additional reporting requirements on payment moratoria that banks in the European Union must follow during the COVID-19 crisis. The temporary rules are aimed at ensuring that banks are addressing gaps in the supervisory data that they hand to national regulators.
