March 18, 2020 / 11:55 AM / 11 days ago

Germany to cut countercyclical bank buffers to zero

FRANKFURT (Reuters) - Germany is reducing the countercyclical buffer for its banks to zero due to the stress caused by the coronavirus outbreak, a statement published by the Bundesbank showed on Wednesday.

“In view of the expected credit needs of the real economy, (financial watchdog) BaFin intends to reduce the countercyclical capital buffer from 0.25% to 0% by April 1,” the Financial Stability Committee said in a statement published by the Bundesbank.

“This preventive measure strengthens the ability of the German banking sector to grant loans.”

Reporting by Balazs Koranyi; editing by Jason Neely

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below