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ECB to banks, no dividends until next year

2020-07-28T10:04:32.693Z


The ECB has asked the banks to avoid paying dividends until next year and to be "extremely moderate" in the "variable remuneration" policy, ie top-level bonuses. (HANDLE)


(ANSA) - ROME, JULY 28 - The ECB has asked banks to avoid paying dividends until next year and to be "extremely moderate" in the "variable remuneration" policy, ie top-level bonuses. In light of the uncertainties still linked to the spread of the coronavirus, the central bank thus extended the previous recommendation valid until October.
    This recommendation, the ECB explains, "remains temporary and exceptional". The aim is to enable banks to maintain their "ability to absorb losses and ensure that credit activity supports the economy".
    However, the ECB has specified that it will review its recommendations in the fourth quarter of 2020. (ANSA).

Source: ansa

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