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Banking Regulatory Update

Banking Regulatory Update

Regulators’ response to the COVID-19 crisis

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The COVID-19 pandemic is impacting all areas of financial services. There are significant challenges – in some cases severe – to the financial and operational resilience of firms and market infrastructure, market volatility, asset de-valuations, liquidity concerns, disruptions to distribution and client on-boarding, increased communications with clients, staffing issues and remote working risks. These are in addition to broader economic impacts.

In response to the COVID-19 pandemic and in order to ease the impact on financial services, regulators are providing concessions to existing requirements, and are delaying the implementation of new measures. However, they are also reminding firms of their obligations to customers and are expecting them to offer specific assistance to consumers.

This publication analyses the actions taken by regulators around the world in response to the COVID-19 pandemic.

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