European financial sector

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Financial Sector Shields Itself From Coronavirus Shock; Brussels Helps With Regulatory Loosening

In the midst of the Q1 2020 earnings season, the financial sector is beginning to protect itself from the more than likely economic shock of the coronavirus. Meanwhile, The European Comisssion offered European banks temporary relief from capital regulations that could boost credit by up to €450 Bn this year. Brussels argued that the economic damage caused by the coronavirus crisis would justify a “selective” relaxation of the regulations introduced in the wake of the 2008 financial collapse.