From the Introduction: "Governments and banks in many jurisdictions have introduced extraordinary measures to alleviate the financial and economic impact of Covid-19 [coronavirus disease 2019]. The relief measures include a range of different payment moratoriums and government guarantees. The Basel Committee on Banking Supervision has agreed that the risk-reducing effects of the various extraordinary support measures taken in its member jurisdictions should be fully recognised in risk-based capital requirements. The Committee has also discussed the impact of Covid-19 on the expected credit losses (ECLs) of banks. The Committee agreed that the extraordinary support measures should be taken into account by banks when they calculate their ECLs. It also agreed on some amendments to the transitional arrangements for the regulatory capital treatment of ECLs. This document sets out guidance on these issues."
2020 Bank for International Settlements
Bank for International Settlements: https://www.bis.org/