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Bundesbank says Germany’s banking system strong despite pandemic

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ReutersEconomy23 minutes ago (Sep 22, 2021 04:10AM ET)

© Reuters. FILE PHOTO: A German flag is reflected in the window of the Paul Loebe building in Berlin, Germany, November 19, 2020. 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 said the Bundesbank will restore normal regulatory requirements for banks but will make sure not to overburden lenders, warning of possible significant credit defaults due to the pandemic.

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