ECB warns banks face significant losses due to Covid-19

Luis de Guindos
Luis de Guindos
Photo: ECB/Flickr

Banks in the eurozone face major losses and further pressure on profitability as a result of the economic paralysis resulting from measures to contain the spread of Covid-19.

Today (May 26), the European Central Bank’s Financial Stability Review stressed the pandemic is also amplifying previous vulnerabilities such as low bank profitability, a highly leveraged corporate sector and valuation losses affecting the non-banking sector. 

ECB vice-president Luis de Guindos explained two opposing

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