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Bundesbank says Germany’s banking system strong despite pandemic By Reuters

by Mike Robinson

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© Reuters. FILEPHOTO: The window of the Paul Loebe Berlin building, Berlin, Germany, November 19, 2020, shows a reflection of the German flag. REUTERS/Hannibal Hanschke/File Photo

BERLIN (Reuters) – Germany’s banking system is still robust despite a year and half of the COVID-19 pandemic but the crisis is not over yet, Bundesbank board director Joachim Wuermeling said on Wednesday.

Wuermeling indicated that while the Bundesbank will reinstate normal banking regulatory requirements, it will not burden lenders. Wuermeling warned about possible credit defaults because of the pandemic.

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