Italy has announced a freeze on mortgage payments following the implementation of a nationwide lockdown to deal with the spread of the Covid-19 coronavirus, with RBS offering similar mortgage relief to those affected by the outbreak in the UK.

Italian mortgage borrowers will be given the option of freezing their payments, said Laura Castelli, Italian Undersecretary to the Ministry of Economy and Finance in an interview with Radio Anch'io.

Italian banking lobby ABI said lenders would offer payment pauses to small firms and households affected by the ...