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ECB may ask banks to withhold dividends for longer – Metro US

ECB may ask banks to withhold dividends for longer

Outbreak of the coronavirus disease (COVID-19) in Frankfurt
Outbreak of the coronavirus disease (COVID-19) in Frankfurt

FRANKFURT (Reuters) – The European Central Bank is considering an extension to a recommendation that banks suspend dividends and share buybacks, and will soon provide an update, ECB bank supervisor Kerstin af Jochnick said on Tuesday.

The ECB asked banks to stop dividends and buybacks until October but the European Systemic Risk Board, which is headed by ECB President Christine Lagarde, already said that banks should not be paying dividends or doing buybacks at all this year.

(Reporting by Balazs Koranyi; editing by John Stonestreet)

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