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ECB to extend pandemic relief for banks by nine months: Bloomberg

06/16/2021 | 05:09am EDT
FILE PHOTO: Specialists work on a crane in front of the European Central Bank (ECB) in Frankfurt, Germany

FRANKFURT (Reuters) - The European Central bank is set to extend relief from a key capital requirement by nine months to keep credit flowing amid the coronavirus pandemic, Bloomberg reported on Wednesday, citing people familiar with the matter.

The decision has yet to be ratified by the ECB's Governing Council, the agency added.

If the move is confirmed, banks supervised by the ECB will continue to be allowed to exclude some of their exposure to central banks, including deposits, from the calculation of their leverage ratio until March 2022.

An ECB spokesperson declined to comment.

The Federal Reserve decided in March not extend a similar break.

(Reporting By Francesco Canepa)

ę Reuters 2021
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AUSTRALIAN DOLLAR / EURO (AUD/EUR) 0.36% 0.62531 Delayed Quote.-1.60%
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US DOLLAR / EURO (USD/EUR) 0.09% 0.843291 Delayed Quote.2.87%
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