The aim of the package is to ensure that banks can continue to lend money to support the economy and help mitigate the significant economic impact of the Coronavirus. It includes an Interpretative Communication on the EU's accounting and prudential frameworks, as well as targeted “quick fix” amendments to EU banking rules. The rules put in place following the financial crisis have ensured that banks in the EU are now more resilient and better prepared to deal with shocks to the economy. The Communication issued with this banking package recalls that EU rules allow banks and their supervisors to act in a flexible, but responsible, manner during economic crises to support citizens and firms, particularly small and medium-sized companies. The Regulation also implements some targeted changes to maximise the capacity of credit institutions to lend and to absorb losses related to the Coronavirus pandemic, while ensuring their continued resilience.