COVID-19 no reason to unwind financial market regulation: Bundesbank

COVID-19 test in Berlin
A health worker handles swab samples for the coronavirus disease (COVID-19) tests in Berlin, Germany September 22, 2020. REUTERS/Hannibal Hanschke

October 9, 2020

BERLIN (Reuters) – The coronavirus pandemic is no reason to dial back financial market regulation as reforms since the financial crisis a decade ago have made the financial sector more resilient, the Bundesbank’s vice president said on Friday.

“The COVID-19 crisis is no reason to roll back financial regulation,” Claudia Buch said in remarks released ahead of meetings of the World Bank and International Monetary Fund next week.

“Since the financial crisis, comprehensive reforms have been implemented. The financial sector is therefore more resilient and has been able to deal with the consequences of the pandemic,” she added, in remarks that echo the European Central Bank’s view.

(Writing by Paul Carrel; Editing by Balazs Koranyi)