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Following the outbreak of COVID-19, the financial sector as well as the government are taking several actions to mitigate negative economic consequences in an effort to keep the financial system in a good condition.
In response to COVID-19 pandemic, various financial first aid measures were adopted in the Czech Republic including loan programs or pecuniary support. Other financial first aid measures shall follow in near future.
1. An important piece of legislation designed to address and mitigate the potentially grave economic consequences of the coronavirus, Governmental Decree No. 47/2020 (III.18.) entered into force on 19 March 2020 (the ...
The President and the Prime Minister of Poland have announced a package of support measures for society and entrepreneurs called the Anti-Crisis Shield.
On 2 April 2020, the Danish government has passed act no. 348 on postponement of holidays in connection with COVID-19 allowing employers to postpone employees’ holidays accrued to the next holiday period.
The German Federal Financial Supervisory Authority (Bundesanstalt für Finanzdienstleistungsaufsicht – BaFin) set up an emergency Website informing financial institutions, regulated entities and the public on all ...
BaFin issued a general decree that lowers the required quota for the domestic countercyclical capital buffer to 0 per cent.
EBA issues Guidelines on legislative and non-legislative moratoria on loan repayments in order to support the financial system during the COVID-19 pandemic.
As COVID-19 continues to send shock waves through the economy, project finance developers prepare to sail through turbulent waters. Solutions are required for the manifold challenges of the crisis – be it the ...
On 9 July 2020, the UK Financial Conduct Authority (FCA) published a 'Dear CEO' letter (the "Letter") addressed to Authorised Payment Institutions and E-money Institutions ("Firms") highlighting 6 key areas where it has ...