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By Antoine KREMER and Silvia De IACOVO, ABBL
A few weeks ago, we had already reported from Brussels on the adjustments to the prudential framework for banks known as CRR 2 to help the economy to cope with the fallout from the COVID-19 crisis. After going through an accelerated procedure in both the European Parliament and the Council, the act was finally adopted by a written procedure on Wednesday, 24 June.
Among the adopted changes is the extension by two years of the transitional arrangements for IFRS 9 and the deferred application of the leverage ratio buffer by one year to January 2023. Furthermore, a more favourable prudential treatment was introduced for both certain exposures to SMEs and infrastructure, and for loans to pensioners or...
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