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The article examines whether the new provisioning rules help to reduce the procyclicality of provisions, against the backdrop of the COVID-19 crisis. The increased flexibility granted by accounting standards for credit loss provisions has been exacerbated by the measures taken by regulators to mitigate the impact of the crisis. From a sample of ninety-four listed European and American banks, we find that in 2020, impaired loans decreased and provisions for credit losses only slightly increased for European banks, despite the significant decrease of GDP. We conclude that IFRS 9, based on the expected credit losses and associated with regulatory easing measures in times of crisis, contributes to the reduction of the procyclicality of provisions. Key words: IFRS 9, provisions, Expected Credit Losses (ECL), Covid-19, regulatory measures