EU Parliament Waves Through 'Quick Fix' Bank Capital Rules

Law360, London (June 19, 2020, 9:46 PM BST) -- European lawmakers have overwhelmingly approved proposals to ease capital and accounting rules as part of a package of "quick fixes" to boost bank lending during the COVID-19 pandemic, the European Parliament announced Friday.

The vote came after the European Commission put forward measures to grant temporary relief from some bank capital rules to encourage lending to companies and households hit by the coronavirus pandemic. The motion to loosen the Capital Requirements Regulation, or CRR, passed by a landslide Thursday evening with 502 votes to 169 and 17 abstentions.

Thursday's vote was the final hurdle with the package already scrutinized by the European Council....

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