Politicians and the Central Bank. The devil is always in the detail!
Politicians 18 Mar 2020 press release taken from the first item of this thread
Implement a payment break up to three months for business and personal customers affected by Covid-19, to be followed by ongoing reviews depending on the scale and extent of the situation
This, to me, reads as inclusive meaning ALL business and personal customers. YMMV.
Central Bank Press Release 19 March 2020
Recent decisions by the Central Bank, also as part of the Eurosystem and Single Supervisory Mechanisms, are designed to ensure monetary and financial stability and that the financial system operates in the best interests of consumers and the wider economy. These include wide ranging measures such as the launch of a €750bn Pandemic Emergency Purchase Programme yesterday, temporary capital and operational relief to banks across the Eurozone, and the release the Counter Cyclical Capital Buffer (CCyB) from 1% to 0%.
In order to ensure that the benefit of these measures are passed on to households and businesses, the Central Bank today met with the Banking & Payments Federation Ireland (BPFI) and five retail banks1 to discuss these and other issues.
During this constructive meeting, both the Central Bank and the BPFI agreed that there is no impediment to the banks introducing a 3-month Covid-19 payment break for those affected by the pandemic.
This, to me, reads as inclusive meaning ALL business and personal customers. YMMV.
Central Bank Press Release 19 March 2020 .continued
Payment moratoria
Banks will introduce three-month payment moratoria on mortgages, and personal and business loans for some business and personal customers affected by COVID-19.
This, to me, reads as the banks deciding who will receive their largesse. YMMV.
John
Politicians 18 Mar 2020 press release taken from the first item of this thread
Implement a payment break up to three months for business and personal customers affected by Covid-19, to be followed by ongoing reviews depending on the scale and extent of the situation
This, to me, reads as inclusive meaning ALL business and personal customers. YMMV.
Central Bank Press Release 19 March 2020
Recent decisions by the Central Bank, also as part of the Eurosystem and Single Supervisory Mechanisms, are designed to ensure monetary and financial stability and that the financial system operates in the best interests of consumers and the wider economy. These include wide ranging measures such as the launch of a €750bn Pandemic Emergency Purchase Programme yesterday, temporary capital and operational relief to banks across the Eurozone, and the release the Counter Cyclical Capital Buffer (CCyB) from 1% to 0%.
In order to ensure that the benefit of these measures are passed on to households and businesses, the Central Bank today met with the Banking & Payments Federation Ireland (BPFI) and five retail banks1 to discuss these and other issues.
During this constructive meeting, both the Central Bank and the BPFI agreed that there is no impediment to the banks introducing a 3-month Covid-19 payment break for those affected by the pandemic.
This, to me, reads as inclusive meaning ALL business and personal customers. YMMV.
Central Bank Press Release 19 March 2020 .continued
Payment moratoria
Banks will introduce three-month payment moratoria on mortgages, and personal and business loans for some business and personal customers affected by COVID-19.
This, to me, reads as the banks deciding who will receive their largesse. YMMV.
John
Please resist misrepresenting my viewpoint.