Bundesbank Says Germany’s Banking System Strong Despite Pandemic

A German flag is reflected in the window of the Paul Loebe building in Berlin, Germany on Nov. 19, 2020. (Hannibal Hanschke/Reuters)

BERLIN—Germany’s banking system is still robust despite a year and half of the COVID-19 pandemic but the crisis is not over yet, Bundesbank board director Joachim Wuermeling said on Wednesday.

Wuermeling said the Bundesbank will restore normal regulatory requirements for banks but will make sure not to overburden lenders, warning of possible significant credit defaults due to the pandemic.