The following blog post is part of the overview of supervisory measures in reaction to the Corona crisis: Supervisory measures in reaction to the Corona crisis – Overview.
The Corona crisis affected banks not only in their daily business but also in their need to fulfil the regulatory requirements. Banks are now obviously confronted with a lot of open and urgent questions regarding specific regulatory issues. Therefore BaFin has set up a website with a comprehensive Q&A section around the regulatory issues in relation to the COVID-19 crisis and the countermeasures taken by the governments. The BaFin statements are directed to less significant institutions (LSI) in Germany. However, they might to some extent also serve as a guidance for significant institutions (SI) or banks in other jurisdictions, provided the statements are applicable and no contradicting statements were published by the respective competent authorities.
Since it is difficult to keep track with the frequently updated Q&As, we clustered and summarised BaFin’s most current key messages in the following section (as of April 22, 2020, to be updated continuously):