Wim Mijs, Chief Executive Officer of the European Banking Federation, provided a statement following the announcements by the European Central Bank and the European Banking Authority.
Says Wim Mijs:
“The ECB and EBA have swiftly delivered comprehensive packages under very challenging circumstances. In the interests of businesses and households in Europe financial stability needs to be maintained. That is particularly important for a bank-financed economy like the one we have in Europe. The ECB package clearly shows it wants to avoid adverse liquidity effects so that banks can continue providing financing to businesses even under these increasingly challenging economic conditions.”
“Furthermore, let me, on behalf of our industry, express our full support for a comprehensive multilateral, coordinated solution that is required to deal with the severe societal impact of the COVID-19 outbreak and to mitigate the economic effects. This is a global crisis that requires a global response. We hope that all the EU Member States take good note of the announcements made today and will swiftly decide on fiscal policies and guarantees.”
The European Banking Federation, in a letter to the EU institutions, has outlined a comprehensive set of policy actions so that banks can continue to support clients in the best way possible. The EBF looks forward to working out details on these proposals in close collaboration with the EU authorities.
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