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ECB asks banks not to pay dividends at least until October
Banks should refrain from dividend payments and share buy-backs for at least six months amid the coronavirus pandemic, the ECB says in its updated recommendation. Capital conserved in this way should be used to support lending to the economy or absorb losses.
Banks and their shareholders must also do their part to fight the economic effects of the coronavirus pandemic, Supervisory Board Chair Andrea Enria writes in the Supervision Blog. He explains the rationale behind the recent supervisory measures and recommended dividend restrictions.
All bank activities related to European products or customers must be managed and controlled from entities located in the EU, says Supervisory Board member Edouard Fernandez-Bollo, speaking about Brexit. Banks must ensure they are well prepared for a possible hard Brexit.
Speech by Kerstin af Jochnick, Member of the Supervisory Board of the ECB, at the ISDA conference on “EU Banking Reforms: Crossing the ‘t’s’ and dotting the ‘i’s’ – Current & Future Priorities for Europe”
Interview with Andrea Enria, Chair of the Supervisory Board of the ECB, conducted by Anna Edwards and Matt Miller on 31 March and published on 1 April 2020
Opinion piece by Andrea Enria, Chair of the Supervisory Board of the ECB, published in Les Echos, Expansión, Frankfurter Allgemeine Zeitung, Phileleftheros, La Stampa and Ta Nea on 30 March 2020 and in Jornal de Negócios on 31 March 2020
Interview with Edouard Fernandez-Bollo, Member of the Supervisory Board of the ECB, conducted by Sophie Gauvent on 2 March and published on 27 March 2020
Interview with Andrea Enria, Chair of the Supervisory Board of the ECB, conducted by Meike Schreiber und Markus Zydra on 4 and published on 19 February 2020 (part 2)
Guideline (EU) 2020/[XX] of the ECB of 20 March 2020 on the recording of certain data by national competent authorities in the Register of Institutions and Affiliates Data (ECB/2020/16)
Opinion on close cooperation between the ECB and Hrvatska narodna banka (HNB) within the Single Supervisory Mechanism, and on the macroprudential mandate and tools of HNB (CON/2020/10) Croatia,
Opinion on the right of insolvency administrators and liquidators of credit institutions to hold funds in an account in Latvijas Banka (CON/2020/4) Latvia,
Banks need to know what the ECB expects from them, especially if they are considering relocating to the euro area. Our latest FAQ update covers the extension of Article 50, banks setting up a branch in a “third country” and how we assess internal models in the context of a relocation.
