EU tells banks to be flexible over loan losses rule in epidemic

LONDON (Reuters) - Banks have the flexibility to avoid a huge rise in provisioning for non-payment of loans during the coronavirus outbreak, the European Union's securities and banking watchdogs said on Wednesday.Banks have warned they face mounting provisions as businesses and households they lent money to struggle to repay loans during the outbreak.EU states have approved measures to offer some relief to businesses such as repayment holidays on loans.But lenders have been unsure whether a..