March 20, 2020 / 12:24 PM / 8 days ago

G20 watchdog urges regulatory flexibility to help virus hit economy

LONDON, March 20 (Reuters) - Regulators should use in-built flexibility in financial rules to help banks keep funds flowing to the economy during the coronavirus epidemic, the Financial Stability Board said on Friday.

“The FSB encourages authorities and financial institutions to make use of the flexibility within existing international standards to provide continued access to funding for market participants and for businesses and households facing temporary difficulties from COVID-19,” the FSB said in a statement.

The FSB coordinates financial rules for the Group of 20 Economies (G20). (Reporting by Huw Jones)

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