|Author (Corporate)||European Commission: DG Financial Stability Financial Services and Capital Markets Union|
|Series Details||COM (2020) 169|
Interpretative Communication published by the European Commission on 28 April 2020, concerning the European Union's accounting and prudential frameworks.
This Communication confirms that banks and their supervisors are allowed to act with flexibility within accounting and prudential rules. The European Commission encouraged banks and supervisory authorities to make use of such flexibility allowed for in the frameworks. The document also highlights areas where banks are invited to act responsibly (in areas such as dividend distributions and remuneration), and recalls how banks can helps businesses and citizens through digital services.
The interpretative communication was published as part of a package on banking matters, which also included a legislative initiative proposing targeted amendments to the Capital Requirements Regulation (CRR).
|Subject Categories||Economic and Financial Affairs|
|Subject Tags||Financial Services|
|Keywords||Banks | Banking
|International Organisations||European Union [EU]|