Bloomberg Iceland’s central bank made a second emergency cut to its benchmark interest rate inside a week as the number of confirmed cases of coronavirus rose to 247 in the tiny north Atlantic nation. The seven-day term deposits rate was reduced by 0.5 percentage points to 1.75%, its lowest level ever. Sedlabanki also reduced countercyclical capital buffer on financial institutions ...

Bloomberg Bank of America Corp. (BofA) pledged to donate $100 million to support populations hurt by the coronavirus. The funds will be distributed to various communities, as well as national and global organisations, the bank said. They’re intended to aid medical response, address food insecurity, assist educational efforts amid school closures and support vulnerable populations, according to the Charlotte, North ...

Bloomberg Germany’s financial watchdogs eliminated a key capital requirement for the country’s banks to keep credit flowing to an economy that’s approaching a standstill as the coronavirus spreads. The countercylical capital buffer, meant to strengthen banks in good times for a downturn, will be cut to 0% starting on April 1 and remain there until at least through December, the ...