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Europe's banks could face even bigger pandemic hit, says ECB

Outbreak of the coronavirus disease (COVID-19) near Frankfurt
Outbreak of the coronavirus disease (COVID-19) near Frankfurt

FRANKFURT (Reuters) - Credit risk in the euro zone's banking sector is very high and deterioration in asset quality could become much worse in the second wave of the COVID-19 pandemic, European Central Bank supervisor Andrea Enria told Belgian newspapers.

"In a second wave (of the pandemic) with a more sluggish recovery, the impact on capital and the deterioration of asset quality could become much more significant," Enria told De Tijd and L’Echo newspapers.

(Reporting by Balazs Koranyi; Editing by David Goodman)