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The outbreak of the ongoing Covid-19 pandemic has tragically familiarized us with enormous costs in lives since the beginning of 2020. At the time of writing this article, Europe sees the third wave of infections. Recent research forecasts that the lockdowns in many European countries and containmen...

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Bibliographic Details
Published inEuropean economy (Roma) no. 1; pp. 35 - 50
Main Author Mansilla-Fernández, José Manuel
Format Journal Article
LanguageEnglish
Published Rome Europeye srl 01.01.2021
Subjects
Accounting
Auditing standards
Banks
Committees
Coronaviruses
COVID-19
Dividend distributions
Economic impact
Flexibility
International Financial Reporting Standards
Monetary policy
Pandemics
Reforms
Regulation
Restrictions
Small & medium sized enterprises-SME
United States > US
Europe
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Summary:The outbreak of the ongoing Covid-19 pandemic has tragically familiarized us with enormous costs in lives since the beginning of 2020. At the time of writing this article, Europe sees the third wave of infections. Recent research forecasts that the lockdowns in many European countries and containment measures could be fuelling an economic depression that might impact the real and the financial sectors (Angelini et al., 2020; Atkenson, 2020; Bodenstein et al., 2020). The Basel Committee regularly revises the implications of the Basel III standards for banks. Although the last published results do not reflect the impact of the Covid-19 pandemic on banks, recent estimates predict that banks have made positive progress in meeting capital and liquidity requirements in the last five years. The scale and the nature of the Covid-19 crisis called for an extraordinary monetary policy response. The European Central Bank introduced a wide-ranging package of measures that acted through two dimensions: (i) asset purchases and (ii) liquidity operations.
ISSN:2421-6917
2421-6917