COVID-19 : The Regulatory and Supervisory Implications for the Banking Sector

COVID-19 : The Regulatory and Supervisory Implications for the Banking Sector

This note provides a set of high-level recommendations that can guide national regulatory and supervisory responses to the COVID-19 (coronavirus) pandemic and offers an overview of measures taken across jurisdictions to date. The banking sector pla...

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Main Authors: International Monetary Fund, World Bank
Format: Policy Note
Language:English
Published: International Monetary Fund and the World Bank, Washington, DC 2020
Subjects:
BANKING SECTOR
CORONAVIRUS
COVID-19
PANDEMIC RESPONSE
FINANCIAL SHOCK
FINANCIAL REGULATION
FINANCIAL SERVICES
LOAN RESTRUCTURING
GLOBAL RECESSION
STANDARD-SETTING BODIES
Online Access:http://documents.worldbank.org/curated/en/446571590080100775/COVID-19-The-Regulatory-and-Supervisory-Implications-for-the-Banking-Sector
http://hdl.handle.net/10986/33793
id okr-10986-33793
recordtype oai_dc
spelling okr-10986-337932021-05-25T09:56:26Z COVID-19 : The Regulatory and Supervisory Implications for the Banking Sector International Monetary Fund World Bank BANKING SECTOR CORONAVIRUS COVID-19 PANDEMIC RESPONSE FINANCIAL SHOCK FINANCIAL REGULATION FINANCIAL SERVICES LOAN RESTRUCTURING GLOBAL RECESSION STANDARD-SETTING BODIES This note provides a set of high-level recommendations that can guide national regulatory and supervisory responses to the COVID-19 (coronavirus) pandemic and offers an overview of measures taken across jurisdictions to date. The banking sector plays a critical role in mitigating the unprecedented macroeconomic and financial shock caused by the pandemic. Timely, targeted and well-designed regulatory and supervisory actions are essential to maintain the provision of critical financial services, particularly to households and firms that are affected most, while mitigating financial risks, maintaining balance sheet transparency, and preserving longer-term financial policy credibility. In this context, authorities should employ the embedded flexibility of regulatory, supervisory, and accounting frameworks, and encourage judicious loan restructuring while continuing to uphold minimum prudential standards. Standard-setting bodies have issued guidance to support national authorities in their efforts to provide effective, sound, and well-coordinated policy measures. 2020-05-21T18:45:56Z 2020-05-21T18:45:56Z 2020-05-21 Policy Note http://documents.worldbank.org/curated/en/446571590080100775/COVID-19-The-Regulatory-and-Supervisory-Implications-for-the-Banking-Sector http://hdl.handle.net/10986/33793 English CC BY 3.0 IGO http://creativecommons.org/licenses/by/3.0/igo World Bank International Monetary Fund and the World Bank, Washington, DC Economic & Sector Work Economic & Sector Work :: Policy Note
repository_type Digital Repository
institution_category Foreign Institution
institution Digital Repositories
building World Bank Open Knowledge Repository
collection World Bank
language English
topic BANKING SECTOR
CORONAVIRUS
COVID-19
PANDEMIC RESPONSE
FINANCIAL SHOCK
FINANCIAL REGULATION
FINANCIAL SERVICES
LOAN RESTRUCTURING
GLOBAL RECESSION
STANDARD-SETTING BODIES
spellingShingle BANKING SECTOR
CORONAVIRUS
COVID-19
PANDEMIC RESPONSE
FINANCIAL SHOCK
FINANCIAL REGULATION
FINANCIAL SERVICES
LOAN RESTRUCTURING
GLOBAL RECESSION
STANDARD-SETTING BODIES
International Monetary Fund
World Bank
COVID-19 : The Regulatory and Supervisory Implications for the Banking Sector
description This note provides a set of high-level recommendations that can guide national regulatory and supervisory responses to the COVID-19 (coronavirus) pandemic and offers an overview of measures taken across jurisdictions to date. The banking sector plays a critical role in mitigating the unprecedented macroeconomic and financial shock caused by the pandemic. Timely, targeted and well-designed regulatory and supervisory actions are essential to maintain the provision of critical financial services, particularly to households and firms that are affected most, while mitigating financial risks, maintaining balance sheet transparency, and preserving longer-term financial policy credibility. In this context, authorities should employ the embedded flexibility of regulatory, supervisory, and accounting frameworks, and encourage judicious loan restructuring while continuing to uphold minimum prudential standards. Standard-setting bodies have issued guidance to support national authorities in their efforts to provide effective, sound, and well-coordinated policy measures.
format Policy Note
author International Monetary Fund
World Bank
author_facet International Monetary Fund
World Bank
author_sort International Monetary Fund
title COVID-19 : The Regulatory and Supervisory Implications for the Banking Sector
title_short COVID-19 : The Regulatory and Supervisory Implications for the Banking Sector
title_full COVID-19 : The Regulatory and Supervisory Implications for the Banking Sector
title_fullStr COVID-19 : The Regulatory and Supervisory Implications for the Banking Sector
title_full_unstemmed COVID-19 : The Regulatory and Supervisory Implications for the Banking Sector
title_sort covid-19 : the regulatory and supervisory implications for the banking sector
publisher International Monetary Fund and the World Bank, Washington, DC
publishDate 2020
url http://documents.worldbank.org/curated/en/446571590080100775/COVID-19-The-Regulatory-and-Supervisory-Implications-for-the-Banking-Sector
http://hdl.handle.net/10986/33793
_version_ 1764479529161588736

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