The European Banking Authority (EBA) has confirmed that mortgage and loan payment breaks, offered to borrowers earlier this year, will be phased out from the end of this month as planned.
The EBA said it had made the decisions following close monitoring of developments resulting from the Covid-19 pandemic. "These guidelines, which were published in the early phases of the Covid-19 pandemic, have provided the necessary flexibility as well as certainty on the regulatory framework, in light of significant number of actions taken by banks to support their customers as exceptional lock-down measures were put in place," it said. "The continued ability for banks to provide lending is of key importance and the EBA will keep monitoring the situation