Irish Banks Free To Release Capital Buffers Into Economy

Law360, London (March 19, 2020, 12:44 PM GMT) -- Ireland’s central bank has said it will release banks from holding a capital buffer so that they can pump money into households and businesses during the economic downturn caused by the spread of COVID-19, in a move that follows U.K. and European measures

The Central Bank of Ireland said late Wednesday that it has reduced the so-called countercyclical capital buffer that banks have been required to hold in preparation for economic shocks from a rate of 1% to 0%. This will temporarily remove the capital requirement by no later than April 2.

The Irish authority said that the buffer is designed...

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