ECB to accept ‘fallen angel’ bonds as collateral, Covid-19 legal protections

The European Central Bank has changed its rules to accept bonds that lose their investment grade credit rating during the coronavirus crisis as collateral, oil prices rebounded on Wednesday after Donald Trump stoked Middle East tensions, and US business groups are calling on the federal government to shield companies from litigation if workers are exposed to the virus. Plus, the FT’s Moscow bureau chief, Henry Foy, explains why Vladimir Putin’s regime is leaning on tycoons to help the state in troubled times.

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