MLex: EU banks’ coronavirus (COVID-19) woes may have been temporarily eased by supervisory largesse on the accounting treatment of unpaid loans—suggesting mortgage holidays won’t lead to higher capital requirements. A change to accounting rules themselves seems unlikely ahead of a 31 March 2020 reporting deadline, but the move by the Bank of England (BoE) and European Central Bank (ECB) increases the chance that accountants will use the flexibility and judgment inherent in accountancy norms.
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