April 27, 2020 / 10:21 AM / 2 months ago

EU to offer banks capital relief to help virus-hit companies - sources

LONDON, April 27 (Reuters) - Banks in the European Union are to get more capital relief to help companies struggling in the coronavirus pandemic and avoid crippling provisions for loans hit by a looming deep recession, sources said on Monday.

The bloc’s financial services chief Valdis Dombrovskis is expected to propose this week that the EU will “emulate in some form” a move by the Federal Reserve to allow banks to ease how they calculate their leverage ratio, sources familiar with the package said.

Reporting by Huw Jones, editing by Louise Heavens

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