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Members of the European Parliament have agreed on a series of temporary changes to the EU’s bank capital framework, including the introduction of a prudential filter for sovereign bond exposures. They stopped short of adopting amendments that would restrict the payment of additional tier one (AT1) coupons.

The European Systemic Risk Board is recommending that financial institutions do not equity dividends at all this year, so that they maintain high levels of capital. It acknowledged the risk that some firms could otherwise be stigmatised if they decided to restrict distributions amid Covid-19.

Angus Whelchel, who was global head of private capital markets and a managing director at Barclays, has left the bank, according to market sources.

Emerging market borrowers and lenders still lag developed markets on the transition away from the Libor, with the coronavirus pandemic hampering progress.

Each week, GlobalCapital journalists share some of the most interesting things they have been reading, from the profound to the quirky. This week has been marked by widespread protests across the US and the wider world, in reaction to an unarmed African-American man, George Floyd, dying while a policeman knelt on his neck in Minneapolis.

The Council of Europe Development Bank has recruited a new member to its funding team with an appointment from fellow supranational borrower, the European Stability Mechanism.

The head of the Prudential Regulation Authority (PRA) has sent a letter to banks confirming its guidance on how to provision for expected credit losses (ECLs) amid the coronavirus pandemic. The UK regulator also said that it would be asking for more information around loan loss provisions in an effort to identify "significant outliers" in the market.

EU lenders will have to give more detail about their use of loan repayment holidays and public guarantee schemes during the coronavirus pandemic, according to new reporting guidelines published by the European Banking Authority (EBA) this week.

Capital markets players love to talk about being socially responsible. The death of George Floyd shows talk has got society nowhere. It is time for action.

The US Office of the Comptroller of the Currency (OCC) is urging local officials to ease their Covid-19 lockdown measures, warning that some banks are now suffering delinquency rates in the mid-double digits on their small business loan books.

The shift to home working is going to heap pressure on office property companies, with some corners of the capital market expecting their bonds to start selling off if workers stay away as lockdowns are eased.

The Financial Conduct Authority expects that a court case determining whether UK insurers have to pay out on business interruption claims as a result of Covid-19 will be settled by the end of July.