April 22, 2020: by Aidan Lawson and Greg Feldberg – “The Yale Program on Financial Stability has produced and will continue to update a spreadsheet to assist those contemplating programs to provide operational regulatory relief to financial institutions. The spreadsheet catalogs historical examples, identifies interesting features, summarizes existing evaluations of programs, and shares general resources on the topic. This spreadsheet can be accessed here. Also, access our live “financial-intervention” tracker, which is a single point-of-entry on the YPFS website to keep up with financial-crisis fighting interventions by central banks, fiscal authorities, and international organizations here.
The COVID-19 crisis has led governments across the world to temporarily ease the operational burden of supervisory and regulatory activities on the financial institutions they regulate. These regulatory relief efforts can be broken down into three major categories:
- Reducing supervisory activities such as stress tests and bank examinations.
- Delaying the implementation of new rules or laws.
- Reducing reporting requirements.
The YPFS Financial-Intervention Tracker shows 85 such regulatory relief measures to date, as summarized in our Resource Guide. As the COVID-19 crisis unfolds, regulators have pledged to continue to find new ways to help financial companies focus on their COVID-19 response in a safe and sound manner…”