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Post-crisis bank reforms ensured muted Covid impact, Basel Committee says

By Fiona Maxwell ( July 6, 2021, 14:00 GMT | Insight) -- Banks were mostly shielded from the impacts of the pandemic due to various Basel reforms, the standard-setter said today. Banks continued to lend to the real economy and maintained strong capital positions, the Basel Committee on Banking Supervision said. It acknowledged, however, that lenders were hesitant to tap their capital buffers, possibly due to distribution restrictions and market stigma.The global banking system would have suffered more as a result of the pandemic had it not been for wide-reaching prudential reforms and the support provided by public authorities, the Basel Committee on Banking Supervision says....

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