Will this crisis lead to any major problems for the banks and the financial system?
For the time being, there is no reason to believe that the coronavirus crisis will bring any major problems for banks as was the case during the 2008-2010 financial crisis. prudential supervision and capital requirements were tightened up substantially after this financial crisis. European cooperation in the field of banking supervision has improved considerably, so that banks today are sounder and any problems that one European country may face cannot easily spread to another country. The European Central Bank’s prudential supervision services are following the situation closely, in cooperation with the supervisory authorities like the NBB.
Besides, this crisis did not originate in the financial sector, but rather a health crisis that first of all needs to be dealt with on the medical front. All the same, the coronavirus crisis will clearly have financial and economic consequences. The NBB is following the situation closely. We stand ready to take all measures that might prove necessary.