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EU banks freed to strip capital for sake of lending
By EUobserver
The EU is backing looser capital rules for banks to help them keep lending to households and small businesses in the coronavirus crisis, according to a statement by EU finance ministers Thursday. "Making full use of the flexibility provided for in the prudential and accounting framework is essential," they said at a virtual meeting, Reuters reported. EU states would "give banks the necessary flexibility", German finance minister Olaf Scholz said.