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Europe's banks could face even bigger pandemic hit, says ECB

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Credit risk in the eurozone’s banking sector is very high and deterioration in asset quality could become much worse in the second wave of the COVID-19 pandemic, European Central Bank supervisor Andrea Enria told Belgian newspapers, writes Balazs Koranyi.

“In a second wave (of the pandemic) with a more sluggish recovery, the impact on capital and the deterioration of asset quality could become much more significant,” Enria told De Tijd and L’Echo newspapers.

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