European Commission and financial sector discuss Covid-19 relief measures

October 2020

Leaseurope participated in a series of high-level meetings between European regulators, financial sector representatives, and business and consumer organisations on Covid-19 relief measures and endorsed a set of best practices.

Commission building

Stakeholders meet with Commissioners

Around the end of April, the European institutions agreed on a banking package to help bank lending support the economy in light of the damage created by the spread of Covid-19 and subsequent national lockdowns. The European Commission then launched a dialogue with the financial services sector to explore how to best support consumers and businesses at this time.

Leaseurope participated in two virtual high-level roundtables on this topic organised by Commissioner Dombrovskis, the first on 28 May and the second on 29 June 2020. These roundtables brought together representatives from the financial services industry, business and consumer organisations, as well as representatives of the European Supervisory Authorities.

Best practices endorsed

As a result of these meetings, the European Commission and participating stakeholders have agreed on a set of ‘best practices’ in relation to consumers and businesses, which address a variety of relief measures our industry engages in to support overall economic recovery. This includes payment moratoria, facilitating cashless payments and providing necessary funding quickly and fairly.